Set a large cast-iron skillet over medium high heat. Place 1 tablespoon of oil in the skillet. Salt and pepper the steaks liberally on both sides.
Once the oil is hot, sear the steaks for 2 to 3 minutes per side. Approximately two minutes per side for medium-rare, or three minutes aside for medium. Remove the steaks and place on a holding plate.
Add the butter and shallots to the skillet. Sauté the shallots for 2 minutes. Then add the mushrooms and sauté for another 3 to 5 minutes to soften.
Pour in the cognac. You can tip the skillet towards the burner to flambé the alcohol if you like, but it is not necessary. It will cook off either way. If you decide to flambé, be extra careful!
Whisk in the Worcestershire sauce, Dijon mustard, heavy cream, and smoked paprika. Allow the sauce to simmer for 2-3 minutes to thicken. Then either place the steaks (and juices) back in the skillet for serving, or plate the steaks and pour the sauce over the top.
Garnish with fresh chopped chives or parsley if desired. For the Cheesecake Factory plating, serve with mashed potatoes and grilled onions.
