In a large skillet, combine butter and olive oil. Heat over medium heat. Add garlic; cook and stir for 1 minute. Add shallots; cook and stir until tender, about 3 minutes. Add shrimp, wine, lemon juice, and 1/2 teaspoon salt; bring to boiling. Reduce heat and simmer, uncovered, for 2 to 3 minutes or until shrimp turn opaque, stirring occasionally. Remove shrimp with a slotted spoon; cover and keep warm.
Continue to gently boil liquid in skillet, uncovered, about 15 minutes or until liquid is slightly thickened and reduced to about 1 cup. Stir in parsley and thyme.
Return shrimp to skillet and toss gently to coat with liquid in skillet. Transfer to a serving dish; serve warm. Makes 8 servings.