1 tablespoon unsalted butter
2 tablespoons olive oil, divided
2 pounds trimmed beef flatiron steak or chuck, cut into 8 pieces
Kosher salt
Freshly ground black pepper
1 cup finely chopped onion
1 tablespoon finely chopped garlic
1 tablespoon all-purpose flour
1 (750-milliliter) bottle dry red wine
2 bay leaves
1 thyme sprig
1 (5-ounce) piece of pancetta
2 1/4 cups water, divided
15 pearl or small cipollini onions, peeled
15 cremini mushrooms
15 baby carrots, peeled
Sugar
Chopped fresh parsley, for garnish
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