Heat a cast iron (or heavy bottomed skillet) over highest heat.

Pat dry steak and season with salt and pepper.

Pour oil in hot pan to coat bottom of pan. Add steak and sear for 5 minutes per side. Remove steak from pan and allow to rest for 10 minutes before slicing. 

Note: If using thicker steaks or if well done steak is desired, you can cook steak for an additional 5-10 minutes in a 400 degree oven.