Preheat oven to 375˚F.
Combine butter and olive oil in a large oven-safe skillet and set over medium high heat; Melt butter.
Add onions to skillet and cook for 2 minutes.
Season chicken with garlic powder, paprika, and onion powder.
Add chicken to the skillet; cook for 5 minutes, or until golden brown on all sides.
Stir in mushrooms; season with salt and pepper, stir, and continue to cook for 4 minutes, stirring frequently, until mushrooms are tender.
Stir in garlic.
Add rice and cook for 1 minute.
Add chicken broth; increase heat to high and bring to a boil.
Turn off heat. Cover skillet with a lid and bake in the oven for 30 minutes.
Remove cover and continue to bake for 3 more minutes, or until liquid is absorbed.
Remove from oven and let stand 5 minutes.
Garnish with Parmesan cheese and parsley; serve.