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1. Boil stock in small saucepan until reduced to 3/4 cup, about 7 minutes.
2. Meanwhile, melt butter in a large skillet over medium-high heat. Season steaks with salt and pepper. Cook steaks to desired doneness, about 4 minutes per side for medium rare. Transfer steaks to a plate (do not clean skillet).
3. Add chopped shallots to same skillet and saute for 2 minutes. Remove from heat. Add reduced beef stock, 1 cup whipping cream, 3 tablespoons cognac or brandy, and green peppercorns. Boil until mixture thickens to a sauce consistency, about 6 minutes. Season sauce to taste with pepper and spoon over steaks to serve.
Bon Appetit, November 1998