Season steak with salt, black pepper, garlic powder, and paprika. Place on an oven safe baking rack over a pan and bake for 25 minutes.
While steak is baking, cook bacon over medium low heat until crispy, about 3-4 minutes per side. Remove bacon, and reserve the bacon grease in the pan. Chop bacon finely, and put to the side.
In a medium bowl, beat 1/2 stick of softened butter until creamed. Add in chopped cooked bacon, minced garlic, and thyme -combine together and refrigerate.
Next, in a large bowl season shrimp with seasoned salt. Put to the side.
After 25 minutes, heat pan using the reserved bacon grease over medium high heat. Add in 1/2 a stick of butter and melt, add in 3 sprigs of fresh thyme and steak and sear for 3-5 minutes per side, occasionally spooning butter mixture over the top of the steak.
Remove steak, and allow it to rest.
To the same pan, add in shrimp and cook until pink, about 4-5 minutes. Remember to flip shrimp halfway through.
Next top steak with shrimp and add a dollop of bacon butter mixture over each steak and serve.