Prepare the Scallops and Steak: Pat the steak dry and season all over with salt and pepper. Allow to set out at room temperature for 30 minutes. Pat the scallops dry and transfer to a paper towel-lined plate. Season with salt and pepper and transfer to the refrigerator, uncovered, for 30 minutes to chill.

Cook the Steak: In a cast-iron skillet, heat the oil over medium-high until shimmering. Pat the steak dry once more and place in the skillet. Cook without moving for 2-3 minutes until a deep, golden crust forms. Flip and cook an additional 1-2 minutes more. Add 1 tablespoon butter to the skillet and spoon the melted butter over the steak for 45 seconds to 1 minute more or until the steak reaches the desired internal temperature. Transfer the steak to a cutting board or plate and tent loosely with foil and rest for 10 minutes. Carefully wipe out the skillet.

Prepare the Herb Butter: Melt three tablespoons butter in a small saucepan. Once frothy, turn off the heat. Add the garlic, parsley, chives, and crushed red pepper. Season lightly with salt and pepper and stir. Set aside.

Cook the Scallops: Pat the scallops dry once more. Melt 1 tablespoon of butter into the skillet. Once frothy, add the scallops in an even layer (cook in batches if needed) and cook for 1-2 minutes or until a deep, golden brown crust forms. Flip and cook an additional 1 minute or until they are cooked through, but not overcooked. The bottom of the scallop will not form as much of a crust as the top. Transfer to a plate.

To Serve: Right before serving, slice the steak against the grain and transfer to a serving plate. Arrange the scallops next to it and spoon the herb butter over the entire dish. Sprinkle with a touch of flaky sea salt, if you like. Enjoy!