Yes, EXTRACTION is a Scrabble word!

Letter values in Scrabble US: E 1, X 8, T 1, R 1, A 1, C 3, T 1, I 1, O 1, N 1.

Is it a valid word?

EXTRACTION is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the process of obtaining something from a mixture or compound by chemical or physical or mechanical means
properties attributable to your ancestry
the action of taking out something (especially using effort or force)