Cooking the steak in this way will allow the fat to brown well and form a wonderful crust on its surface while keeping the center of the steak soft and moist. Ribeye steak should be seared in a hot cast iron pan on all sides, then finished in an oven at a high temperature.
By far, my favorite cut of steak is the ribeye, with the New York strip coming in a very close second place. Tender, delicious, and well-marbled, ribeyes have these amazing fatty borders that, when well-browned, taste like candy to me.
You can cook ribeyes at home, but only with a well-seasoned cast-iron pan, which is the only way to get a decent sear on your steaks.