Craftsman LT2000 18hp Briggs & Stratton lost power, leaking oil

[srd]

I just bought a house and the owner threw in a Craftsman LT2000 mower. I was mowing with it for the first time and about 2/3 of the way through my 2 acres, it started to lose power and some black smoke came out from the front. I immediately shut it off to see what was going on and noticed oil dripping from what appeared to be the bottom of the engine down onto the pulley. I didn't hear any unusual noises, just the loss of power before I shut it down. I would appreciate any input on what might be going on. I'l hoping it might be something like a seal. I would think there would have been some nasty noises if it had been a valve, rod, piston, etc.

Thanks,

Steve

 

[mechanic mark]

post model number from under seat as well as all numbers from engine & engine manufacturer, thanks

 

[srd]

post model number from under seat as well as all numbers from engine & engine manufacturer, thanks

Craftsman Model Number 917.275750
Ser #072005D008704
Briggs & Stratton Intek 18.5 HP OHV
31P7770299E1
050513ZE04478
Family: 5BSXS.5012VP
276016

 

[mechanic mark]

CRAFTSMAN Lawn Tractor Parts | Model 917275750 | SearsPartsDirect

Object moved click anyway

First, check oil level, change if black per engine specifications, type & grade of oil, otherwise make sure it's on full mark. Second, remove air filter & replace it. Third, remove spark plug & replace, remember to gap plug per manual spec. Last, adjust valves to specs. per manual. You can purchase an engine troubleshooting manual for your engine, very handy and inexpensive.
https://www.youtube.com/watch?v=1-XlET33VHM
https://www.briggsandstratton.com/u...dStratton/RepairManualByEngineModelSeries.pdf

Amazon.com : Briggs Stratton Small Engine Parts # 276781 REP MAN- INTEK : Lawn And Garden Tool Replacement Parts : Patio, Lawn & Garden

 

[srd]

CRAFTSMAN Lawn Tractor Parts | Model 917275750 | SearsPartsDirect

Object moved click anyway

First, check oil level, change if black per engine specifications, type & grade of oil, otherwise make sure it's on full mark. Second, remove air filter & replace it. Third, remove spark plug & replace, remember to gap plug per manual spec. Last, adjust valves to specs. per manual. You can purchase an engine troubleshooting manual for your engine, very handy and inexpensive.
https://www.youtube.com/watch?v=1-XlET33VHM
https://www.briggsandstratton.com/u...dStratton/RepairManualByEngineModelSeries.pdf

Amazon.com : Briggs Stratton Small Engine Parts # 276781 REP MAN- INTEK : Lawn And Garden Tool Replacement Parts : Patio, Lawn & Garden

Mechanic Mark, thanks for the reply. For some reason, I couldn't see any of your suggestions, just a link to searspartsdirect and something about "object moved" until I clicked reply with quote. Anyway, I appreciate the input. The oil is definitely black. I will try your suggestions of replacing oil, air filter and spark plug, as well as valve adjustment. I can handle this level of engine work no problem. I am curious what you think is going on that would cause the loss of power and then oil to be leaking out? I have no history with this mower, it came with the house. I should have gone over it and changed the oil before using it but with the move and all of the unpacking, the grass was getting pretty long. I had a break, so I thought I would get the grass cut.

Thanks,

Steve