First, select a good cut of meat. A rib eye is a perfect steak for this preparation; it’s got tons of flavor, with thick ribbons of succulent fat. Look for a steak that’s about an inch and a half thick, with plenty of fat marbled throughout.
Season you steak with salt and pepper. Don’t season your meat until right before you are ready to put it in the pan; salting too far ahead of time can change the texture. Be generous with your salt; a good steak can take a lot more than you’d think. Resist the urge to apply other seasonings.
On the stove top, heat a cast iron skillet over high heat. Add a small amount of cooking oil and butter; it helps transfer heat between the pan and the steak, helping your perfect seasoned crust to form. Heat the pan until the oil just starts to smoke.
Place your steak, seasoned side-down, on the hot pan, and leave it alone. Don’t flip it, wiggle it, or adjust it. Let it be.
Allow to cook over high heat for 4-6 minutes. While it cooks, you can season the other side generously with more kosher salt and pepper.
After it cooks on the first side for 4-6 minutes, flip the steak over with a pair of tongs (add a little more butter), and immediately transfer the whole pan right into your preheated 500 degree oven. Allow to cook in the oven for 4-7 more minutes.
Using tongs, transfer your steak from the oven to a cutting board. Now, this is a very important step: Leave your steak alone. Leave it alone! Don’t cut into it, wiggle it, move it, or press it. Don’t even look at it too long. There are a few reasons for this. First, we need to allow the steak to finish cooking to perfection, somewhere between the top end of medium-rare, but not quite to medium, depending on the thickness of the cut.