Combine water, clam juice, white wine, shallots, garlic, 3 of the thyme sprigs, rosemary and parsley in a large stock pot; bring to a boil, reduce heat and simmer for about 10 minutes.
In a food processor combine the minced shallots, chives, tarragon, leaves from the remaining 2 sprigs of thyme, lemon juice, lemon zest, salt, pepper and butter; blend until smooth.
Place a steamer basket in the stockpot, add the clams to the steamer basket and cover. Cook until the clams open, about 10 minutes; remove any clams that do not open. Gently heat the herb butter. Transfer clams to a serving bowl. Strain the broth. Serve the clams with the broth, the herb butter and slices of the warm baguette.