In a medium bowl mix together ground beef, egg, panko crumbs, garlic powder, onion powder, black pepper, salt, and Worcestershire sauce. Form and roll 1 1/2 inch meatballs.
Heat 1 TBS oil and 1 TBS butter in a large skillet over medium high heat to a sizzle. Add meatballs and brown on all sides. Remove meatballs to a plate and set aside.
In same skillet over medium heat add additional 1 TBS oil and 1 TBS butter. Add sliced onions and saute until softened and lightly browned. Mix in beef broth, water, and dry gravy mix. Add meatballs back into skillet and bring to a boil over high heat.
Cover skillet with a lid and drop heat down to a low setting. Let simmer for 15 minutes until meatballs are cooked through. Serve with mashed potatoes or cooked egg noodles. Garnish with fresh parsley and enjoy.