Heat the oven to 350°F. On a rimmed baking sheet, toast the almonds until golden brown, 8 to 10 minutes, shaking the pan occasionally and checking for even browning. Set aside.
In a medium Dutch oven or large ovenproof saucepan with a lid, heat the butter and oil over medium heat. Add the shallots and cook, stirring, until softened, 3 to 5 minutes. Add the rice and stir until all the grains are well coated. Add the chicken broth, water, salt, and a few grinds of pepper and bring to a boil. Cover the pot, transfer to the oven, and bake until the rice is tender and the liquid is absorbed, 20 to 25 minutes. Remove from the oven. Let the rice stand, covered, for 5 minutes. Fluff with a fork, stir in the toasted almonds, and serve.
nutrition information (per serving):
based on eight servings;
Photo: Scott Phillips