If applicable, remove neck and giblets from chicken, and reserve for another use. Sprinkle chicken with salt, garlic powder, and pepper.
Melt butter with oil in a large, heavy cooking pot over medium-high heat; add chicken, and cook, breast side down, 5 minutes or until golden brown. Turn chicken, breast side up, and reduce heat to medium-low. Add 1/4 cup water and 1/4 cup wine or broth to pot. Cover and cook 1 hour or until a meat thermometer inserted in thigh registers 180°.