1.Place morels in a small bowl and pour boiling water over top. Leave to re-constitute for about 30 minutes.
2.Meantime, heat butter and oil in a medium-sized cast iron frying pan over medium heat. Once sizzling, add onion and sauté until soft and translucent, about 7 to 10 minutes. Add garlic and sauté for another 2 minutes. Remove from heat until morels are ready to cook.
3.Squeeze excess water from the morels, reserving the liquid. Slice larger morels into bite-sized pieces and leave tiny ones whole.
4.Place the pan holding the onions back on the burner, set on medium. Add mushrooms and cook, stirring occasionally, for a good 5 to 7 minutes.
5.Pour in the reserved soaking liquid and simmer until all the liquid has evaporated. Stir in thyme. Add wine and simmer until reduced by half, then add cream.
6.Cook until the cream has thickened enough that it’s little more than a coating on the mushrooms. Remove from heat and reserve.