Preheat the oven to 500 degrees F.
Cut the rib eye in half (roast halves separately for more controlled/even cooking).
Heat some oil in a large skillet over high heat. Sear both rib eye halves until a nice dark golden color, 2 to 3 minutes per side.
Place the peppercorns into a bag and crush with a rolling pin. Shred the leaves from the thyme and rosemary sprigs. Mix the salt with the crushed peppercorns, rosemary leaves, thyme leaves and garlic. Pour olive oil over the rib eye and pour on the rub mix. Pat slightly to get it to stick to the meat. Roast for 20 minutes, then reduce the heat to 275 degrees F and roast until a meat thermometer registers 125 for rare/medium-rare, about 20 more minutes (the roast will continue to cook slightly after removing from the oven). Remove from the oven and let rest for 15 to 20 minutes before slicing.