In a small saucepan, melt 2 tablespoons of the unsalted butter over medium heat. Add the minced shallot and cook until softened, about 2-3 minutes. Add the minced garlic and cook for another minute until fragrant, being careful not to burn it.

Stir in the smoked paprika, onion powder, dried oregano, cayenne pepper (if using), and red pepper flakes (if using). Cook for 30 seconds, stirring constantly, until fragrant.

Pour in the chicken or vegetable broth, lemon juice, and Worcestershire sauce. Bring to a gentle simmer and cook for 1 minute to allow the flavors to meld.

Remove the saucepan from the heat. Whisk in the remaining 6 tablespoons of softened butter, one tablespoon at a time, until fully incorporated and the sauce is emulsified and glossy. Stir in the chopped fresh parsley and chives. Season the cowboy butter with salt and freshly ground black pepper to taste.

Pat the shrimp thoroughly dry with paper towels. Season lightly with 1/2 tsp salt and 1/4 tsp black pepper.

Heat a large skillet (cast iron works wonderfully) over medium-high heat. Add 1 tablespoon of olive oil. Once the oil is shimmering, add half of the seasoned shrimp in a single layer, ensuring not to overcrowd the pan. Cook for 1-2 minutes per side, until pink and opaque. Remove cooked shrimp from the pan and set aside. Repeat with the remaining shrimp.

Return all the cooked shrimp to the skillet. Pour the prepared cowboy butter over the shrimp. Toss gently to ensure all shrimp are thoroughly coated in the rich sauce.

Serve the Sizzling Cowboy Butter Shrimp immediately, garnished with extra fresh parsley or chives if desired. It pairs wonderfully with crusty bread, rice, or pasta to soak up the delicious sauce.