Preheat oven to 400F. Place a cast-iron skillet in the oven while still cold so that the cast iron heats with the oven.

Rub the steak with a light coating of ghee or oil. Next, rub a generous coating of salt and pepper on all sides, including the edges.

Once the oven is preheated, remove the cast-iron skillet (careful, it's hot!) and place on the stovetop over medium heat. Add the ghee (or oil), and place the steak in the pan and let sear. Do this for 1 1/2–2 minutes.

Flip the steak and immediately return it to the oven for 4–6 minutes (depending on doneness; 4 minutes for medium-rare). Prepare for a bit of smoke, as the pan is very hot — once it goes back into the oven, it should cool down slightly and stop smoking.

Measure out the butter and chopped fresh thyme.

Remove the steak from the oven and place on the stovetop over low heat. Add the butter to the pan and baste the steak with the butter. Tilt the cast-iron skillet downward (being careful not to get burned) and scoop the butter up with a spoon, ladling it over the steak. Do this for 2–4 minutes depending on the desired doneness.

Wrap in foil or cover the steak and let rest for 5 minutes.

Serve it up with some veggies — and maybe a pat of extra butter!