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Pound chicken breasts to an even thickness then brush both sides with extra virgin olive oil and season with salt and pepper. Heat a large skillet over medium-high heat (6/then add chicken and saute until no longer pink, 3-4 minutes a side. Remove to a plate then tent with foil to keep warm.
Melt 1 Tablespoon butter in same skillet then add shallots and saute until tender, 2 minutes. Add wine, chicken broth, balsamic vinegar, and fresh cherries, if using, then simmer until sauce is reduced by nearly half, 3-4 minutes. If using frozen cherries, add now with thyme then continue to reduce sauce until slightly thickened, 2-3 minutes, pressing down on cherries gently with the back of a wooden spoon.
Remove skillet from heat then stir in remaining Tablespoon butter and lemon juice. Spoon over chicken breasts then serve.