Preheat your oven to 350°F (175°C).
In a large baking dish, place the chicken thighs skin-side up. Drizzle with olive oil, and season with salt and pepper.
In a medium bowl, mix together the cream of mushroom soup, onion soup mix, and water until well combined.
Pour the soup mixture over the chicken thighs, ensuring that they are evenly coated.
Cover the baking dish tightly with aluminum foil to maintain moisture during cooking.
Bake in the preheated oven for 2 hours, allowing the flavors to meld and the chicken to become tender.
After the cooking time, remove the foil and allow the chicken to bake for an additional 15-20 minutes to crisp up the skin.
Once cooked, remove the dish from the oven and let it rest for a few minutes.
Serve the chicken hot, garnished with fresh herbs if desired. Pair it with rice, mashed potatoes, or vegetables.