For the butter: Using a rubber spatula or wooden spoon, work butter in a bowl until it is softened and very spreadable. Add all other ingredients, and mix until thoroughly combined. Place butter in the middle of a piece of plastic wrap, shape butter into a log, wrap it up, and twist the ends of the plastic to close. Place in the refrigerator until firm, at least 30 minutes.
For the steaks: Pat steaks dry with paper towels, coat with olive oil, and set aside to come to room temperature, at least 5 minutes.
Heat a large seasoned cast iron skillet or large frying pan over medium-high heat until hot but not smoking, about 3 minutes. Place steaks in pan and cook, undisturbed so they can get well-browned, about 5 minutes per side for medium-rare. Remove steaks to a dish, top with pats of compound butter, and let rest 10 minutes before serving.
Recipe courtesy of Aida Mollenkamp