Preheat the oven to 350 degrees. In a bowl, cover the apricots with hot water and let stand until soft, about 15 minutes; drain.

Meanwhile, dry the chicken with paper towels and season with salt and pepper. In a stainless steel skillet, heat the oil. Add the chicken, skin side down, and cook over moderately high heat until golden brown, 5 minutes. Flip and cook about 3 minutes longer. Transfer the chicken to a baking sheet and roast for about 14 minutes.

Add the onion, garlic, thyme, and bay leaf to the skillet. Season with salt and cook over moderate heat until the onion is tender. Add the wine and boil until reduced by half, scraping up the browned bits in the skillet. Add the chicken stock, apricots, and apricot preserves and bring to a boil. Cook over high heat until the sauce thickens. Off the heat, swirl in the butter until melted. Discard the thyme sprigs and bay leaf. Season the sauce with salt and pepper. Transfer the chicken to plates, spoon the sauce on top and serve.