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Preheat oven and prepare skillet: Preheat oven to 400°F. Heat oil in a large cast-iron or other oven-proof skillet (not a nonstick skillet) over medium-high until it begins to smoke.
Dry and season steak: Pat steak dry with paper towels. Season each side with 1 teaspoon coarse salt and 1 teaspoon cracked pepper.
Cook steak: Cook steak in skillet over medium-high heat until a dark crust has formed, 5 to 7 minutes per side (reduce heat if meat is browning too quickly).
Brown edges: Holding steak with tongs, quickly brown all edges, turning as necessary; lay steak flat in skillet.
Transfer to oven: Transfer skillet to oven. Roast until an instant-read thermometer inserted in the thickest part of steak registers desired doneness, 5 to 15 minutes.
Spread with butter and let rest, then slice and serve: Transfer to a plate; spread with 1 tablespoon Steak Butter. Cover loosely with aluminum foil, and let rest 5 to 10 minutes (temperature will then rise another 5 to 10 degrees). Slice across the grain; serve with remaining Steak Butter.