In a small bowl, mash together the softened butter, lemon juice, minced garlic, fresh thyme leaves, and fresh parsley. The lemon juice may not fully incorporate, but that's fine. Set the garlic herb butter aside.
Pat the scallops dry thoroughly with paper towels. Season both sides evenly with sea salt and black pepper.
Heat the olive oil in a large cast iron skillet over medium-high heat until shimmering. Keep the prepared garlic herb butter nearby.
Place the scallops in the skillet in a single layer, ensuring they do not touch. Sear without moving for 2-3 minutes until a golden crust forms on the bottom.
Flip the scallops and immediately add the garlic herb butter in pieces around the scallops. Continue searing for 2-3 more minutes, basting the scallops with the melted butter occasionally, until a crust forms on the other side and scallops are cooked through.