2 to 3 hours before cooking, rinse the chicken thighs under cold water and pat them dry thoroughly with paper towels. Season both sides of each thigh with salt and freshly ground black pepper. Set the chicken aside and allow it to rest until it reaches near room temperature. Meanwhile, preheat your oven to 350°F (180°C) with a rack placed in the middle position. I like to let the chicken sit out a bit so it cooks more evenly later.
Heat a large oven-safe frying pan or skillet over medium-high heat. Add the finely sliced bacon strips and cook, stirring occasionally, for about 6-7 minutes until the bacon is fully cooked and lightly crisp. Remove the bacon from the pan and set it aside, leaving the bacon fat drippings in the pan for extra flavor.
Add 1 tablespoon of unsalted butter to the pan with the bacon drippings and let it melt until it sizzles. Place the seasoned chicken thighs from Step 1 skin-side down into the pan. Cook uncovered for about 8-10 minutes until the skin is golden or golden brown. Flip the chicken and cook for another 6-7 minutes. Transfer the chicken thighs to a plate and cover them loosely with foil. Be sure to keep the chicken drippings in the pan.
Lower the heat to medium and add the remaining 1 tablespoon of unsalted butter to the pan. Once it sizzles, add the peeled and halved or quartered shallots along with the minced garlic. Cook for about 10 minutes, stirring occasionally, until the shallots are tender and lightly caramelized. Some shallots may separate while cooking, which is perfectly fine.
Nestle the browned chicken thighs from Step 3 back into the pan with the sautéed shallots and garlic. Pour the dry white wine over the contents of the pan. Sprinkle the cooked bacon from Step 2 and arrange the fresh thyme sprigs on top. Season with extra freshly ground black pepper if desired. Transfer the pan to the preheated oven and bake uncovered for 30 minutes. Letting the bacon and thyme bake with the chicken gives the dish a wonderfully aromatic finish.
Remove the pan from the oven and let the chicken rest briefly before serving. Spoon the shallots, bacon, and reduction over the chicken thighs for a hearty presentation.