Heat a heavy skillet over medium-high heat. Add 1 tablespoon each of the butter and oil. When hot, drop the pancake batter by 1/4 cup measurements into the skillet, flatten the pancakes slightly and cook until golden brown, about 2 minutes. Flip the pancakes and cook 2 minutes more.
Continue with the rest of the batter, adding additional butter and oil as necessary. Keep the pancakes warm in a low temperature oven until all are cooked. Serve warm.