Place olive oil and butter in a medium sauté pan to medium high heat. Add quartered mushrooms and toss to coat well.

Let sauté couple minutes. Add salt, pepper and counter seasoning, toss to coat. Keep heat medium high and let cook 3 or 4 minutes.

Add sherry, reduce heat slightly and let reduce by 3/4. Four to five minutes.
Remove mushrooms leaving fat and any liquid.
Remove pan from heat.

Place removed mushrooms in a small processor bowl.
Pulse to desired consistency.
From small dice to slur.

Prepare orzo according to directions.
Boil 12 minutes in salted water.
Shut off heat and let stand 1 minute. Drain well.

To finish, reheat pan with liquid and fat to medium heat.
Add basil and let sauté a minute.
Add drained orzo. Stir to coat and heat. Add slurred mushrooms and mix well.
Plate up and top with fresh chives.