Step 1

Prepare the Steak: Sprinkle steak all over with salt and pepper. Set a baking rack on a baking sheet wrapped in aluminum foil; place steak on rack. Let stand, uncovered, for 1 hour or up to overnight in the refrigerator.

Step 2

Preheat oven to 200°F. Place baking sheet with steak on rack in preheated oven. Bake until a thermometer inserted in thickest portion registers 105°F to 110°F for a medium-rare or 115°F to 120°F for medium-well, 30 to 40 minutes, or to desired degree of doneness.

Step 3

Remove steak from oven; set aside. Heat a cast-iron or heavy bottom nonstick skillet over high. Add butter and extra-virgin olive oil to hot skillet; swirl to coat. When oil just starts to smoke, add the steak; cook until well-browned, 1 to 2 minutes per side. Transfer steak to a cutting board, and let rest 10 minutes before slicing.

Step 4

Prepare the Smoky Chimichurri: Process parsley, cilantro, garlic, shallot, and chipotle chile in a food processor until roughly chopped, 8 to 10 pulses. Add olive oil, vinegar, lime zest and juice, salt, oregano, and paprika; process until emulsified, about 1 minute. Serve sliced steak with chimichurri.