Is the splitter new to you or did you add oil to it. Does sound like it is to full so drain a little out. If it is similar to mine there is no dip stick just a pipe plug with breather in it.
if it's on a hill it will do that, if the oil is very hot it will, if you overfill the reservoir it will do that, its nothing to alarm about though, let it squirt out til it stops
make sure its at proper level your not doing the (system) any favors letting it blow threw the breather,... Dont wait until you are posting further problems,..Eric