Preheat the oven to 350 degrees F. Heat a cast iron pan over medium-high heat.
Season steak with salt and pepper on both sides. Add around ½ tablespoon of butter and 1 tablespoon of olive oil. Cook for around 4-5 minutes per side. Remove to a plate.
Add remaining butter to the same pan. Cook onions and peppers until softened. Add garlic and cook for one more minutes.
In a large bowl, combine cream cheese, sour cream, and Worcestershire sauce. Then stir in around half of each cheese.
Cut steak into bite-sized pieces. Fold steak and veggies into cream cheese mixture.
Pour back into cast iron skillet. Top with remaining cheeses.
Bake for 20-25 minutes or until bubbly.
Garnish with green onions if desired.
Notes
Ingredient Notes and Shopping Tips
Ribeye: A ribeye has a good amount of fat for flavor and cooks up super tender. Look for one with a cap on the end. You could also use a sirloin which is cheaper but leaner.
Cream Cheese: Use full-fat cream cheese for the best results. Leave at room temperature for 30-60 minutes to soften. If you forgot to soften your cream cheese, you can also place the foil pack into a bowl of warm (not hot) water.
Worcestershire Sauce: Look for it in the condiment aisle near the ketchup.
Freshly shredded cheese melts more smoothly.
Butter and Oil: Choose an oil that has a high smoking point, like vegetable oil or avocado oil.
Sour Cream: Use full-fat sour cream.
Tips
Uniform Veggie Cuts: Try to cut your veggies into even-sized pieces. This will help them cook evenly and ensure you don't get a large piece when dipping.
Bring steak to room temperature and pat dry: This gives you a great sear and helps it cook evenly.
Don't overcookthe steak: It will continue cooking in the oven. We like ours medium at around 140-150 degrees.
Rest Steak: Allow the steak to rest for 5-10 minutes before cutting. This allows the steak to reabsorb and redistribute the juices to help it stay moist and juicy.