Season your steak with salt and pepper on both sides. You’ll want to slightly over salt because this will season your shallots as well. In a skillet, add the oil and heat the pan on high. Once it starts to shimmer, add a ½ tablespoon of butter to melt. Add the steak and cook one and a half minutes on each side (depending on the thickness). We use a splatter screen to keep down the oil splatters. Once you get a nice brown on each side remove from the pan to a sheet pan to rest. Remove the pan from the heat (so it cools off and won’t burn your shallots) and turn down the burner to medium. Add the pan back to the burner and add ½ tablespoon of butter until it’s melted.
Preheat your oven to 375°F or on low broiler. Next add the shallots and stir as needed to caramelize but not burn. Once they are golden brown to your liking, add them on top of the steak. Put the steak into the oven for a few minutes on the middle or bottom rack to heat through and lightly crisp the shallots on top. (We did about 2-3 minutes. Keep an eye on it so that you don’t burn the shallots!)