Pat steaks dry with paper towels and place on a rimmed baking sheet. Set aside to come to room temperature about 30 minutes to an hour before grilling.

Drizzle olive oil over both sides of the steaks and season with salt and pepper.

Prepare a grill fire to 350° using hickory or oak for smoke flavor.

Mix the steak butter together in a bowl, combining all ingredients.

Place steaks on the grill and close the lid. Cook 5 minutes.

Flip the steaks and add about 1 teaspoon of steak butter to each steak.

As the butter starts to melt, brush to evenly coat. Close the lid and cook another 5-8 minutes. Use a digital meat thermometer to cook until it reaches desired doneness. We cooked ours to about 128° for rare.

Remove steaks onto a serving platter, butter side down. Spoon the remaining butter over the steaks and rest for about 5 minutes.

Upon resting, internal temperatures will rise another 5 degrees.