Step 1

Preheat the oven to 300°. Pat the steak dry with paper towels, and season it with the salt and pepper. Then let it rest at room temperature for 30 minutes.

Step 2

Heat the oil in a cast-iron skillet over high heat. Then place the steak in the skillet and cook it until a golden brown crust forms, three to four minutes on each side. Roll the steak to cook the sides as well.

Step 3

Top the seared steak with the butter, then place the skillet in the oven. Continue cooking the steak to your desired degree of doneness (for medium-rare, a thermometer should read 135°; medium, 140°; medium-well, 145°), 20 to 25 minutes, flipping it once. When the steak is done, remove it from the pan and let it stand for five minutes.

Step 4

Cut the strip steak and tenderloin off the bone, then cut these pieces into thick 2-inch slices and place them back around the bone to serve.