Chicken with Morels and Tarragon Cream Sauce

1 oz. dried morels
3/4 c. hot water
1 tbsp. vegetable oil
4 (6 oz.) boneless chicken breast halves with skin
Salt and freshly ground pepper
2 tbsp. unsalted butter
1/2 lb. cremini mushrooms, caps quartered
1/2 c. dry white wine
1/2 c. chicken stock or low-sodium broth
1/2 c. heavy cream
1 tbsp. coarsely chopped tarragon
1 tsp. fresh lemon juice

Preheat oven to 425°F. Put morels in a bowl and pour the hot water over them. Place an inverted small dish over morels to keep them submerged and let stand until softened, about 20 minutes. Lift morels from soaking liquid and rinse them to get rid of any grit. Chop any large morels. Reserve soaking liquid.

In a large, deep, ovenproof skillet, heat oil until shimmering. Season chicken breasts with salt and pepper. Add to skillet, skin side down, and cook over moderately high heat until browned on the bottom, about 6 minutes. Turn breasts and cook until browned on the bottom, about 3 minutes. Add 1 tbsp. butter to skillet and swirl to melt. Put skillet in oven and roast chicken for about 8 minutes, until just cooked through. Transfer chicken to plate and keep warm.

Melt remaining butter in skillet. Add cremini mushrooms, season with salt and pepper, and cook over moderate heat until browned, about 5 minutes. Add morels and cook, stirring, until they start to darken, about 3 minutes. Add wine and simmer over moderately hight heat until reduced to 3 tbsp., about 3 minutes. Add stock and slowly pour in reserved morel soaking liquid, stopping before you reach the grit at the bottom. Simmer until reduced by 2/3, about 6 minutes. Add cream and tarragon and simmmer until thickened, about 4 minutes. Add lemon juice and season sauce with salt and pepper. Add chicken breasts to skillet, skin side up, along with any accumulated juices, and simmer over low heat until chicken is hot, about 3 minutes. Transfer chicken breasts to plates and serve with sauce.

Serve with boiled potatoes. Makes 4 servings.