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Mix the butter, chiles, cilantro and tequila in a bowl to blend.
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Lay a sheet of plastic wrap on a work surface.
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Spoon the chili butter over the center of the plastic wrap and roll it into a cylinder.
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Refrigerate for at least 2 to 3 hours or overnight.
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Heat a barbecue grill to medium-high heat, or preheat a grill pan over medium-high heat.
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Sprinkle the steaks with salt and black pepper.
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Grill the steaks on one side for 5 minutes.
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Meanwhile, cut the chili butter log crosswise into 8 slices, and set aside.
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Turn the steaks over and top each steak with 2 butter slices.
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Continue grilling for 5 minutes for medium-rare, or until the butter begins to melt.
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Transfer the steaks to plates and serve.