Remove ribeye from packaging and pat dry with paper towels. Season generously on all surfaces.
Place ribeye on a wire rack over a baking sheet in refrigerator for 12-24 hours.
Remove ribeye from refrigerator 1 hour prior to cooking.
Preheat oven to 250°F. Place a baking rack over a foil-lined baking sheet.
Preheat a large cast-iron or heavy skillet to medium-high. Add 3 tablespoons oil or fat. When oil is hot and shimmering, place roast in pan fat-side down. Sear for 2-3 minutes on all sides.
Remove ribeye from skillet, place on prepared baking rack, and place in oven on center rack. Cook for 1 hour and 15-30 minutes, or until ribeye has reached 125°F for rare, 135°F for medium.
Remove from oven, let rest for 10 minutes, then carve and serve.