Preheat your oven to 250°F.

Heat 1 tablespoon of olive oil in a large Dutch oven.

Add the bacon and cook over medium heat until it’s crispy, about 8 to 10 minutes.

Remove the bacon and set it aside.

Pat the beef cubes with paper towels and season them with salt and pepper.

In batches, sear the beef in the leftover bacon fat until browned on all sides.

This should take about 5 minutes per batch.

Add the carrots and sliced onions to the pot with the beef.

Cook for about 10 minutes.

Add 3 cloves of minced garlic and cook for 1 more minute.

Add the cognac carefully and ignite the mixture with a match.

Ensure all alcohol burns away.

Stir in the tomato paste and thyme leaves.

Add the wine and beef broth, along with the bacon.

Bring to a simmer.

Cover the pot and place it in the oven for about 1 hour and 15 minutes, until meat and vegetables are tender.

Stir occasionally.

In a small bowl, combine 2 tablespoons of butter and the flour.

Stir into the stew, along with frozen onions and mushrooms.

Simmer on the stovetop for 20 minutes.