Rinse the morels thoroughly in cold water. Quarter the morels, lengthwise. Place in a non-reactive saucepan with 4 ounces butter, shallots and a squeeze of lemon. Cover pan and cook slowly over medium-low heat while cooking halibut. Adjust seasonings, to taste, if needed.
In a separate large pan, melt 2 oz. butter over medium heat until it begins to brown, about 3 minutes. Stir in asparagus and cook 3 minutes. Remove from heat; transfer asparagus to a bowl. Season with salt and pepper; keep warm. Wipe pan clean.
Pat halibut dry with paper towels; discard towels. Season with salt and pepper. Warm the pan over medium-high heat; add olive oil. When oil is hot, carefully add halibut. Cook until fish is browned and opaque throughout.
To serve, divide mushrooms among four warmed bowls. Top with halibut, spoon mushroom sauce over. Add asparagus around; sprinkle with chives.
Recipe courtesy of Alaska Seafood and Chef Michael Cimarusti- find more great recipes at their site!