Using paper towels, pat both sides of the steak dry; season generously with 1 1/4 teaspoons salt and 1/2 teaspoon pepper. Heat a medium cast iron skillet over medium high heat until very hot, about 1-2 minutes; add canola oil. Place the steak in the middle of the skillet and cook, turning every 2-3 minutes, until a dark crust has formed on both sides, about 12-14 minutes. Reduce heat to medium low.
Push steak to one side of the skillet; add butter, garlic, thyme and rosemary to opposite side of the skillet, tilting the skillet towards the butter and cooking until butter is foaming, about 30 seconds to 1 minute. Working carefully, spoon butter over steak for 1-2 minutes, turning over once, until it reaches an internal temperature of 120 degrees F for medium rare, or until desired doneness. Let rest 15 minutes before slicing. Serve immediately.