Make the cowboy butter: Combine all Cowboy Butter ingredients into a bowl then place on a parchment paper and roll into a log; Refrigerate for at least 10 minutes before serving;
Char the hickory planks: Place each plank face side down directly over hot coals for about 3 minutes per side; You want the planks to get darker but not to catch fire;
Revert the planks face side up and move over indirect heat; Lay each steak on top of the planks and close the lid; Cook at 250°F for about 20 minutes or until the internal temperature of the steaks reaches 105°F using an instant read thermometer;
Reverse sear the steaks by placing them over direct heat for 1 minute per side, or until desired doneness;
Remove the steaks from the grill; Cut two ¼ inch thick slices of cowboy butter and place on top of each steak; Let the steaks rest for 10 minutes before serving; Enjoy.