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They are better known as hydraulic lash adjusters. They work similiar to a lifter to keep the valve lash properly adjusted.
Did they say why the oil is "running back into the pan? The lash adjusters should still have oil in them at start-up.
How many miles on it?
i have a 2004 F250 SD with 5.4 it makes the lifter noise for about 2 scnds after starting. it starts and idles up high and than back down. by the time it goes down to normal idle the noise is gone. i have 7000 miles. other than that i love it. i started using Moble 1 and it's not as bad. i don't like how it goes to high idle when i start it.
I have a 2001 5.4L, in a F150 Super Crew with 105000+ miles on it, and it does NOT rattle, never has. Sounds like a load of bovine feces to me. That or I am just deaf or lucky.
Try starting with your AC turned off and see if the noise stops. My 99 did the same when I left the AC turned on and it sounded bad. I think they put a delay in the 2002 and newer models. I notice my 2003 will not allow the AC to come on until after the motor starts. Ed
Definately not the compressor, and it only happens when the engine is cold.
What is weird is that it is a lot louder on the passenger side than on the drivers side.
I wonder if there is a problem with the chain tensioner. It uses oil pressure to keep the chain tight. Double check those exhaust manifold bolts. They have been know to slightly leak and it can sound like a lifter ticking.