HEAT butter and olive oil in a large pan over medium heat.
ADD onions and mushrooms. SAUTÉ until mushrooms are tender and onions opaque, about 10 minutes.
ADD in the garlic and thyme. SAUTÉ about 1 minute.
STIR in the rice and COOK about 2-3 minutes.
POUR in the broth. SCRAPE up the brown bits from bottom of the pan.
Bring mixture to a BOIL.
COVER pan and reduce heat to simmer. COOK for 15 minutes.
TASTE after 7 minutes of cooking. ADD additional seasoning (salt, pepper or chicken base) if needed.
REMOVE from heat and let stand, covered, for 5 minutes before serving.