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Step 1
Preheat oven to 300 degrees and put the rack in the middle position. Pat the roast dry with paper towels and use 5 pieces of kitchen twine to tie the roast at even intervals along the length of the roast. Tying the roast ensures that it has a more even thickness from one end to the other and helps it to cook evenly. Generously apply the salt and pepper all around the outside of the roast.
Step 2
In a 12 inch oven safe skillet, heat the oil over medium high heat until hot. Add the roast, fat side up and allow it to brown well before turning it to the next side to do the same. Continue on all sides and end with the fat side last.
Step 3
Transfer the pan to the oven and roast until an instant read thermometer inserted into the center of the roast registers at 135 degrees, about 60 to 70 minutes. Remove the roast from the oven and transfer it to a cutting board, then tent it lightly with foil to rest for 15 minutes before slicing. As it rests, it will continue to cook and reach 145 degrees.