Heat 1 tablespoon of olive oil in a skillet over medium heat. Add the sliced shallots and a pinch of salt. Cook, stirring occasionally, until they become golden brown and crispy, about 10-15 minutes. Remove from heat and set aside.

Pat the ribeye steak dry with paper towels. Season both sides generously with salt and crushed black peppercorns, pressing them into the meat to adhere.

In a large skillet, heat the remaining tablespoon of olive oil over high heat until shimmering. Add the ribeye steak and sear for about 4-5 minutes on each side for medium-rare, adjusting the cooking time to your desired doneness. Use a meat thermometer for accuracy (130°F for medium-rare).

While the steak is cooking, combine the softened butter, chopped tarragon, and minced garlic in a small bowl. Mix well until combined. Set aside.

Once cooked to your liking, remove the ribeye from the skillet and let it rest on a cutting board for at least 5 minutes. This allows the juices to redistribute throughout the meat.

Slice the rested ribeye and top with the crispy shallots. Serve with dollops of the tarragon-infused butter on top, allowing it to melt into the warm steak. Garnish with fresh parsley if desired.