Season all sides of the tri-tip with salt, black pepper, smoked paprika, garlic powder, onion powder, dried thyme, and dried oregano. Place the tri-tip in a resealable freezer bag.
Submerge the sealed bag in the water bath, ensuring the meat is fully immersed. Cook for 6 hours.
Remove the tri-tip from the water bath, then from the bag, and pat it dry with paper towels. Heat a heavy skillet over high heat and add the oil.