Pat the scallops dry and season it with salt and pepper. Chop the bacon into small bits.
Heat 1 tbsp butter in a medium pan over medium-high heat. Add the bacon and cook until crispy. Remove the bacon with a slotted spoon. Leave the bacon grease in the pan.
Turn the heat to high and add the scallops to the pan. Saute for 1-2 minutes per side until both sides are golden and cooked. Remove the scallops to a plate.
Add the bacon back to the pan and 1 tbsp of butter. Saute for one minute before adding the cream. Drop the heat down to medium and add the cream and cheese into the pan. Lower the heat to low and stir often until the sauce is thickened and reduced by half. The sauce should coat the back of a spoon.
Return the scallops to the pan and coat it with the sauce before serving.
Per Serving: 782 calories, 73 g fat, 24g protein, 11g total carbs, 10g net carbs.