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Pull the steaks out of the refrigerator at least 30 minutes before cooking.
Sprinkle generously with salt on all sides.
Set the pepper grinder on the largest setting and grind the pepper into very coarse pieces, or crush peppercorns in a mortar and pestle.
Pour the cracked peppercorns on a plate and press the steaks into the peppercorns on both sides, shaking the plate to ensure even coating.
Set a large cast-iron skillet over medium heat and add olive oil and butter.
Once the butter melts, add the steaks to the skillet and sear for 4 to 5 minutes per side.
Move the steaks to a holding plate and cover with foil.
Carefully pour ½ cup cognac into the hot skillet and tip the pan so the cognac catches the flame, allowing the alcohol to burn off.
Pour the heavy cream into the skillet, followed by the minced garlic, dried thyme, and beef base.
Whisk well and allow the cream to come to a gentle simmer for 4 to 5 minutes until the sauce slightly thickens.
Taste and add 1 to 4 more tablespoons of cognac to taste and salt as needed.
Serve the steaks warm with a hearty spoonful of peppery cognac sauce over the top.