For the Compound Butter: Warm the olive oil in a small sauté pan over medium heat. Add shallots and season with measured salt and pepper. Sauté shallots until soft and beginning to caramelize, about 4-5 minutes.
Add the garlic and sauté until fragrant, 45 seconds-1 minute. Remove from heat and transfer to the bowl of the stand mixer fitted with the paddle attachment.
Add remaining compound butter ingredients to the bowl of the stand mixer. Mix on medium-low speed until smooth and combined, about 2 minutes.
Transfer compound butter to a large piece of parchment paper and roll it into a log.
Refrigerate for at least 3 hours before using.
For the Steak: Preheat the oven to 400 degrees F. Pat steaks thoroughly dry with paper towels. Rub both sides of steak liberally with olive oil and season generously with salt and pepper.
Heat a cast iron skillet over high heat. Add olive oil and swirl to coat pan. Immediately add steaks and reduce heat to medium high.
Cook undisturbed for 3-4 minutes, until a nice sear is achieved on the underside of steak. Flip steak over and allow to cook another 1-2 minutes undisturbed. Transfer the cast iron skillet to the oven. Cook until an insta-read thermometer reaches desired temperature. 120 degrees F for Rare, 130 degrees for Medium rare, 140 degrees for Medium.
Remove cast iron skillet from oven and transfer steak to a clean work surface. Top each steak with a pad of compound butter. Allow to rest for 5 minutes before serving.
Notes
*yields 1 stick of Compound Butter.*Nutritional Information is for one steak with 2 tablespoons of compound butter.