Risotto:

• Heat 5 cups chicken broth in a pot and keep warm.
• Place cut asparagus in a small pan and cover with water. Cook over high heat until just fork tender. Remove asparagus to a bowl full of ice water. When fully cooled, drain and set aside.
• In a heavy bottom pan melt 1 tbsp. butter and 1 tbsp. olive oil over medium heat.
• Add shallot and cook for 1- 2 minutes until softened.
• Add rice and cook until it smells nutty, not browned, about 1-2 minutes.
• Add white wine and stir until absorbed.
• Turn heat down to medium low.
• Add 1 ladle of warm chicken broth to rice and stir until absorbed. Once absorbed, add another ladle of chicken broth and continue stirring. Keep adding broth and stirring, one ladle at a time until all of the broth has been used and absorbed into the rice.
• While you are slowly adding the broth to the rice, start cooking the shrimp. Heat a small pan on medium high. Add 1 tbsp. olive oil, then shrimp and shallot. Sauté for a minute on each side. Add blanched asparagus, red pepper flakes and 1 tbsp. butter to pan, toss to coat. Remove from heat and set aside.
• After about 20 -30 minutes, the broth should all be added. Stir in heavy cream, remaining 1 tbsp. butter, parmesan, shrimp and asparagus. Serve with freshly torn basil and more parmesan.