Preheat oven to 350 degrees F.

For the reduction: Pour cream and champagne into a medium saucepan.

Heat mixture over low heat, stirring constantly until liquid is hot and begins to thin out.

Add blue cheese to taste and stir the cheese into the mixture with a whisk until melted and incorporated.

Sprinkle in the black pepper.

Keeping the mixture on low heat, allow it to come to a low boil and stir constantly until liquid reduces and begins to thicken.

Look for a thin layer to start coating your spatula.

This will take about 5-10 minutes.

When mixture is reduced and thickened, turn off the heat and allow it to sit. The mixture will thicken more upon standing.

For the medium-rare filet mignon: Pour olive oil into a heavy cast iron skillet and heat over medium-high heat until very hot.

Season filet mignon on both sides with salt and pepper.

With tongs, carefully place filet mignon into the hot skillet and sear on each side for 5 minutes.

After both sides have been seared with a nice golden crust, turn off the burner and carefully place the skillet into the preheated oven and cook the steaks for 3 minutes.

Carefully turn the steaks over and cook the other side for 3 more minutes.

Service: Carefully remove filets from the oven (caution: skillet will be very hot).

Remove the filets to individual dinner plates, drizzle the reduction over the steaks, and sprinkle reserved blue cheese crumbles over the whole thing.