tons of threads (no pun intended) on this topic, best solution is drill and tap and put in hard steel insert, most US parts stores carry thread repair kits, you get the tap, drill bit, insert and new drain bolt I think. Read my thread about torque specs a few posts down from this one, good info for when you get it fixed up.
Are you the dealer in Hamilton Ontario? if you are, I think I'm the guy that told you about this site! (Marcel)
You can make a lot of friends and loot here by putting some deals together for guys. I know I speak for most of us when I say we can't leave well enough alone on these Raptors. Always looking to modify and upgrade!
Had the exact same problem. Bought a replacement from the dealer for like 13 bucks. Be real careful about the amount of torque you put on it. I'm looking for a good aftermarket replacement. Let me know if you find something better. The stock piece sucks.
may only be a temporary fix, but
added a thick drain bolt washer to offset the threads being used for torque.
ill update when i see how well it works and if it needs to be replaced after each oil change.