Season both sides of each steak and cook over high heat in a heavy bottom pan, preferably cast iron, usually about six minutes per side for medium. While the steaks are cooking, toast the pecans in a hot oven, about 4 minutes at 400 degrees. Remove steaks from pan and take the pan away from the flame and add the bourbon. Return the pan to the flame (see note) and reduce the bourbon to ¼ cup (at this point the bourbon may flame up, that is okay, it will cook itself out shortly, just ensure you are not leaning over the pan and there is nothing hanging over the pan).
Add the shallots and cook about 1 minute. Add the pecans and remove from the heat. Add the butter in six pieces and swirl the pan until melted. Divide the sauce evenly over the steaks and serve.
Note: Never add liquor to a hot pan over a flame as it may ignite and never add liquor straight from the bottle. The flame may travel up the pouring liquid.