Pat the steak dry with a paper towel, and generously season all sides of the steak with salt and pepper.
Transfer to a wire rack on top of a baking sheet, and bake for about 45 minutes to an hour, until the internal temperature reads about 125°F/50˚C for medium-rare. Adjust the bake time if you like your steak more rare or well-done.
Heat the canola oil in a pan over high heat until smoking. Do not use olive oil, as its smoke point is significantly lower than that of canola oil and will smoke before reaching the desired cooking temperature.
Sear the steak for 1 minute on one side, then flip.
Add the butter, garlic, rosemary, and thyme, and swirl around the pan. Transfer the garlic and herbs on top of the steak and baste the steak with the butter using a large spoon.
Baste for about 1 minute, then flip the steak with tongs and baste the other side for about 15 seconds.
Turn the steak on its side and cook to render off any excess fat.