Pat chicken thighs dry and season with garlic powder, onion powder, paprika, salt, and pepper.
Heat olive oil in a large skillet over medium-high heat.
Place chicken thighs skin-side down and cook for 10-12 minutes until skin is golden and crispy.
Flip chicken and cook an additional 8-10 minutes until cooked through.
Remove chicken and set aside.
Reduce heat to medium, add butter, minced shallot, and garlic; sauté until fragrant.
Pour in chicken broth, lemon juice, thyme, and red pepper flakes; simmer for 3-4 minutes.
Stir in heavy cream and cook until sauce thickens slightly.
Return chicken to skillet and spoon sauce over thighs.
Garnish with chopped parsley and serve hot.