Sea Scallops With Shallots and Walnuts

2 pounds sea scallops, patted dry
6 tablespoons unsalted butter
4 tablespoons light olive oil
4 tablespoons shallots, pared, finely chopped
1/4 cup toasted walnuts, coarsely chopped
4 teaspoons chives, finely chopped
Salt and white pepper

Heat butter and oil over medium heat until hot. Add scallops and saute 2 to 3 minutes, then add shallots and stir. Add walnuts and chives and cook 1 minute; drain off excess fat. Season to taste with salt and pepper. Serve on warm plates and garnish with lemon wedges.

Serves 4 to 6.