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Are you 100% sure it is oil? It could be old sludge and sediment that can accumulate in the radiator and can look very slimy and oily.
If you truly have oil in the antifreeze, it could be from a crack in the engine or a head gasket issue.
The most common thing I’ve seen to cause coolant to mix with oil on GM’s is a leaking intake gaskets, it might be worth looking at, a pressure test would help. Most GM guys tell me they aren’t very fond of Dex cool because it can break down and cause cooling system issues so they often replace it with regular green because it seems to hold up better. Here is a video that might help you with the pressure test.
Thanks for the info guys. It is oily looking. How about the drain plug? Any ideas on how to remove it now that I stripped it?
A broken bolt extractor might work. can you grab it with vise grips ? another idea… take a hex head bolt that will fit snug into the hole ( what is left of it ) clean / dry the hole first ) mix up some jb weld , cover the bolt threads with the epoxy and cram it into the hole. let the epoxy cure. you should then be able to use a socket on the bolt head to loosen the plastic fitting.
You are only suppose to loosen those plugs about 60 degrees then pull the plug out. It is common to have to use a pair of pliers to pull the plug out and if you are unlucky the entire plug will come flying out and shoot coolant straight at you. You can buy a new drain plug if needed at the dealer or at the auto parts store.
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