Let steak stand 30 minutes at room temperature.
Sprinkle salt and pepper evenly over steak. Heat a large cast iron skillet over high heat. Add oil to pan; swirl to coat. Add steak to pan; cook 3 minutes on each side or until browned. ( can cook longer, depending on how well you like your steaks. )
Reduce heat to medium low; add butter, thyme, and garlic to pan.
Carefully grasp pan handle using an oven mitt. Tilt pan toward you so butter pools; cook 1 1/2 minutes, basting steaks with butter constantly. Remove steak from pan; cover loosely with foil. Let stand 10 minutes. Reserve butter mixture.
Discard thyme and garlic; spoon reserved butter mixture over steak. Enjoy!