Is the oil leaking from round the nut? Or under the sprocket/from the seal?
If its genuinely flowing through the driver and appearing behind the nut then yes you need 2 new driver bearings, $110 seems expensive to me but i'm not familiar with US labour rates etc.
If the later, remove the sprocket, clean the seal face/lip checking for any damage, threads and sprocket removing all traces of oil, then grease the sprocket thread and re-install, sometimes dirt/string/grass/hair gets trapped under the seal lip allowing oil out.
Hope this helps,
Dave.