In a small bowl, combine the butter, chipotle, lime zest and juice, and 1 teaspoon salt. Mash with a spoon until smooth. Mound the mixture onto a square of plastic wrap, form into a log shape about 6 inches long, and roll up in the plastic; twist the ends of the plastic tightly to seal. Refrigerate until firm, about 1 hour.
Prepare a grill for high-heat cooking. Rub some oil onto the steaks and sprinkle with salt and pepper. Brush the grill grate with oil. Grill the steaks, turning once, until an instant-read thermometer inserted horizontally in the meat but not touching the bone registers 130 degrees F for medium-rare, about 8 minutes per side. Transfer the steaks to a cutting board and allow to rest 10 minutes. Slice the steaks and divide among plates; top each serving with a slice of the chipotle butter.
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