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In a large skillet, melt butter over medium heat. Add mushrooms, shallot, and garlic; cook, stirring frequently, for about 10 minutes or until mushrooms are tender. Add broth and bring to a boil; reduce heat and simmer for 12 minutes or until liquid is reduced to about ½ cup. Stir in cream, and simmer for 6 to 8 minutes or until sauce is thickened. Stir in thyme, ½ teaspoon salt, and ½ teaspoon pepper. Set aside, and keep warm.

Sprinkle steaks evenly with salt and pepper.

In a large skillet, heat oil over medium-high heat.  Add steaks, in batches if necessary, and cook for 4 to 5 minutes per side or until desired degree of doneness. Remove from pan, and let stand for 10 minutes. Serve steaks with mushroom sauce. Garnish with thyme leaves, if desired.

Note: You can make this sauce ahead and rewarm just before serving. For the steaks, let stand at room temperature for 30 minutes before cooking. And don’t be tempted to cut into them right away after they’re cooked. Let them stand for 10 minutes before serving.