Remove roast from packaging and place on large sheet pan. Drain juices and warm at room temperature 20 minutes. Starting at tail on bone side of roast, cut bone along ribs, between meat and ribs, to back side, separating bones from meat.

Rub prime rib with light coat of oil. Season on all sides and under bone with blend of seasonings. Return bones to bottom side and, using butcher twine, secure in 2-3 areas by tying bones to meat. Wrap in plastic wrap or place in pan and refrigerate 12-16 hours.

Preheat smoker or grill to 200 F and load with preferred smoking wood chunks, if desired.

Place prime rib on grill rib side down, fat side up, allowing drippings to collect in drip tray. Increase heat to 350 F. Close lid and cook, uncovered, until desired doneness is reached.