Prepare the mushrooms: Clean the mushrooms by wiping them with a damp cloth or paper towel. Slice them evenly.

Sauté the aromatics: In a large skillet, heat the butter and olive oil over medium-high heat. Add the diced onion and sauté for 3-4 minutes until softened. Add the minced garlic and cook for another minute until fragrant.

Cook the mushrooms: Add the sliced mushrooms to the skillet. Stir to combine with the onions and garlic. Cook for 6-8 minutes, stirring occasionally, until the mushrooms release their moisture and become tender.

Season and simmer: Stir in the smoked paprika, onion powder, chili powder, salt, and black pepper. Add the fresh thyme and continue to cook for another 1-2 minutes, allowing the flavors to meld together.

Deglaze with broth and Worcestershire sauce: Pour in the beef broth and Worcestershire sauce. Stir, scraping up any browned bits from the bottom of the pan. Let the mixture simmer for 5-6 minutes until the broth reduces slightly and the mushrooms are coated in a flavorful sauce.

Garnish and serve: Remove the skillet from heat and garnish the cowboy mushrooms with freshly chopped parsley.

Enjoy: Serve these savory mushrooms as a side dish or as a topping for steak, grilled meats, or mashed potatoes.