To prep the steak, pat very dry with paper towels, place on a cooling rack set over a Sheet Tray, and season generously on all sides with salt. For best results (if time allows), chill, uncovered, in the fridge overnight to allow the surface to dry out and the salt to be absorbed. If cooking right away, preheat the oven to 250F. Bake steak, closely monitoring internal temperature using a meat thermometer, until it reaches 10-15 degrees below your target temperature (about 115F for a medium-rare 2” steak with a final serving temperature of 130-135F). You can start checking the temperature after about 20 minutes in the oven; the total time to reach your target temperature should be between 40–60 minutes but can vary so keep a close eye. Remove steak from oven; it’s ok for it to sit for a few minutes while you get ready for the next step.

While steak is in the oven, make the Cowboy Butter: Heat a Stainless Clad Butter Warmer or small Saucepan over medium and melt the butter. Remove from heat and whisk in the Dijon. Whisk in the garlic. Add the chives, parsley, lemon juice and zest, red pepper flakes, smoked paprika, and thyme and whisk to combine. Season with salt and pepper to taste and set aside.

Prepare a Grill or turn a stovetop to medium-high heat. Heat a large Carbon Frying Pan until wisps of smoke are visible, about 2 minutes. Add oil and once it just starts to smoke, carefully add steak. Cook 1 minute per side, pressing with a Grill Press to ensure good contact with the pan, until both sides have an even, browned crust. Using tongs, hold steak sideways to sear all sides and render the fat, about 1 minute.

Return steak to one of the large flat sides and, working quickly, tilt base of pan towards you (hold the handle with your nondominant hand), and add a couple of large spoonfuls of reserved Cowboy Butter, collecting a pool of butter by the handle. Use a large spoon to baste the butter over the steak (away from you). Flip steak and quickly repeat on the other side (about 15 seconds of basting per side). Transfer to a Butcher Block. Let cool slightly before handling but it’s not necessary to rest a reverse-seared steak.

Carefully remove the bone (you can sear the cut side, if you like) and cut the steak against the grain in ½”-thick slices. Season with flaky salt and pepper and serve with the rib bone and additional Cowboy Butter alongside.