I don't think much of coincidences either. If you can get it somewhere that is above freezing it might dry out and be fine once the codes are cleared. If the oil got somewhere it shouldn't have you will need to clean it off. I have used MAF cleaner to dry out and/or remove grease or oil from an electrical connection--it leaves no residue.

I would check and clean any associated electrical connections to see if that takes care of the issue first.

__________________
X5 4.6 2002 Black Sap, Black interior. 2013 X5M Melbourne Red, Bamboo interior
Dallas