Remove the steak from the package and dry off with a paper towel. Rub the lime juice over all sides of the steak and season heavily with Original Seasoning. Place on the counter to warm up.
In a small bowl, add the butter, bacon grease, thyme, chives, and grated jalapeno. Mix well until smooth. Spoon the contents onto a piece of plastic wrap and roll up and place in the freezer for at least 30 minutes.
Pre heat the grill or smoker to 325 degrees. If cooking on the grill push all the coals to one end. Grease the grates well.
Wrap aluminum foil arond the bones and place on the indirect heat side of the grill. Add some fruit wood to the coals and cook for about 35 to 40 minutes, flipping the steaks over about 20 minutes into the cooking time.
When the internal temperature is 125 degrees F., move the steaks over to the hot side of the grill and place a slice of the Cowboy butter on each one. Brush the melted butter over the entire steak, and cook for about 4 minutes. Flip and spread more butter on each steak and cook about 2 to 3 minutes.
When the internal temperature is 130 to 135 degrees F. remove the steaks and place them on a cutting board. Tent them with foil for about 5 minutes. Uncover, remove the foil from the rib bones, and serve with extra butter.