In a saucepan, bring water to a boil with the Ranch seasoning mix. Stir in steel-cut oats, cover the pan, and reduce heat to a simmer. Cook, stirring occasionally, until the oats are tender but still have a chewy texture, and most of the liquid has evaporated. This should take about 25 minutes.
Meanwhile, in a nonstick pan, heat the butter or oil until hot but not smoking. Fry eggs until whites are cooked and yolks are slightly runny, seasoning with salt and pepper as they cook.
Divide oats between 4 bowls and top each with an egg. Serve immediately.
For safe meat preparation, reference the USDA website.