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1
Preheat the oven to 325 degrees F. Heat the olive oil in a large Dutch oven over medium- high heat, then add the bacon and cook until crisp, about 10 minutes.
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2
Use a slotted spoon to remove the bacon to a large plate.
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3
Meanwhile, dry the beef cubes with paper towels and season them with salt and pepper.
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4
In batches in single layers, sear the beef in the hot bacon drippings, turning to brown on all sides, 3 to 5 minutes per batch.
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5
Remove the seared cubes to the plate with the bacon and continue searing until all the beef is browned.
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6
Add the thyme, carrots, onion and tomato paste to the pot.
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7
Toss in the fat in the pan and cook, stirring occasionally, until the onions are lightly browned, about 10 minutes.
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8
Put the beef and bacon back in the pot with their juices.
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9
Add the wine plus enough beef stock to almost cover the meat.
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10
Bring to a simmer, cover the pot with a tight-fitting lid and bake for 1 1/2 hours.
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11
Put the butter and flour in a small saucepan over medium heat and whisk together constantly until the raw flavor of the flour cooks out, 2 to 3 minutes.
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12
Put the beef Bourguignon over medium heat, stir in the butter mixture and cook until the stew thickens and the meat is very tender when pierced with a fork, about 15 minutes.
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13
Remove the thyme stems and serve.
