Pat the ribeye dry with paper towels
Season generously with salt and black pepper
Place the steak on a wire rack over a baking sheet
Preheat the oven to 225°F to 275°F
Cook in the oven until the internal temperature reaches 10°F to 15°F below your target doneness
Remove the steak from the oven
Let it rest briefly while heating a cast iron skillet or grill to very high heat
Add a small amount of high-smoke-point oil to the pan if using a skillet
Sear the steak for 45 to 90 seconds per side
Sear the edges briefly if desired
Remove the steak from the heat
Rest for 5 to 10 minutes
Slice against the grain and serve