Preheat the oven to 350 degrees.

Bring the steak to room temperature.

Rub the steak on both sides with the olive oil, salt and pepper, and set aside while you heat a cast iron skillet.

Over high heat, add olive oil and cook steak for 3 minutes per side.

Flip the steak, and reduce heat to a simmer.

Place the steak into the preheated oven for 5 minutes. (This will be medium rare.)

Remove the steak from the skillet to a platter, cover loosely with foil, and allow to rest for 5 minutes.

While the steak is resting, deglaze the pan with the wine, and put back over high heat. Scrape any bits of steak stuck to the pan.

Add the shallots to soften in the wine.

Finish the sauce by swirling in the butter to incorporate.