Let steak rest at room temperature about 1 hour. Preheat oven to 425 degrees. Heat a grill pan to medium-high. (For cooking steak entirely on a gas grill, see step 3.)

Pat steak dry with paper towels. Season steak generously with salt and pepper. Cover exposed bone with foil to prevent browning. Drizzle safflower oil over steak, rub to coat, and place on grill pan. Grill for about 5 minutes, rotating steak 45 degrees halfway through for crosshatch marks; flip and repeat. Transfer steak to a baking sheet fitted with a wire rack and finish cooking in oven until steak reaches 125 degrees for medium-rare, 12 to 14 minutes. Remove steak from oven and let rest 10 minutes before slicing and serving.

Alternately, if using a gas grill: Let steak rest at room temperature about 1 hour. Pat steak dry with paper towels. Heat grill to medium-high. When grill is hot, scrub with grill brush and sweep lightly with oil. Season both sides of steak generously with salt and pepper, cover exposed bone with foil to prevent browning, and place on grill. Cover, and grill over direct heat about 5 minutes, rotating steak 45 degrees halfway through for crosshatch marks; flip and repeat. Move to indirect heat and continue cooking 6 to 7 minutes more per side, flipping once, for medium-rare (125 degrees on an instant-read thermometer). Remove from grill and let rest 10 minutes before slicing and serving.