Remove the ribeye steaks from the refrigerator and let them sit at room temperature for 10 minutes.
Pat the steaks dry with paper towels to remove excess moisture.
Season both sides of each steak evenly with kosher salt and freshly ground black pepper.
Heat a large cast iron skillet over medium-high heat until very hot, about 3-4 minutes.
Add the vegetable oil to the skillet and swirl to coat the bottom.
Place the steaks in the skillet and sear without moving for 4 minutes.
Flip the steaks and add the unsalted butter, smashed garlic cloves, and fresh thyme to the skillet.
Tilt the skillet slightly and spoon the melted butter over the steaks continuously for 3-4 minutes, or until the internal temperature reaches 130°F for medium-rare.
Remove the steaks from the skillet and transfer to a plate. Tent loosely with aluminum foil and let rest for 5 minutes.
Slice the steaks against the grain and serve immediately.