My X5 50i has done the same thing, but not as excessive. Before I had my first oil change, it burned through 3 quarts over a 10k span. However, it wasn't until 7.5k miles that I had to put the first quart in, which is normal. Dealer says it has do with me being a little too lively on the throttle--which I disagree because motors normally don't burn so much oil, but for a Bimmer, it's quite normal.
BMW V8s just seem to burn the oil like no tomorrow, I even had the same problem with my 07 4.8i X5. It wasn't until about 30k when it stopped burning so much.
I hope this helps.
X5er_Driver
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