Place a large non-stick skillet with 1 tablespoon olive oil and 1 tablespoon butter over medium heat. Add the asparagus and season with salt and pepper to taste.
Sauté the asparagus until crisp-tender, 4-6 minutes. Remove sautéed asparagus from the pan and set aside.
In the same pan, add remaining 2 tablespoons butter and add shrimp. Season with salt and pepper, fry shrimp 1-2 minutes on one side.
Add the minced garlic, Italian seasoning, and onion powder to the shrimp. Stir to combine and flip the shrimp to cook on the opposite side for 1 minute.
Add 1/4 cup vegetable stock and Sriracha. Allow the sauce to reduce for 1 minute, making sure not to overcook the shrimp.
Push the shrimp on the side and add asparagus back to the pan. Stir asparagus to coat them into the sauce and squeeze half of a lemon over the top of the shrimp and asparagus. Allow reheating for 1-2 minutes.
Remove shrimp and asparagus from heat, garnish with parsley, lemon slices, and red crushed chili pepper if you like.