In a small saucepan, bring the water to a boil with 1/4 teaspoon of salt. Once boiling, add in the oats, then lower to a simmer. Cook for about 5 minutes, stirring frequently until desired thickness is reached. Then add in the other 1/4 teaspoon salt and the olive oil, thyme, basil, garlic powder and black pepper. Stir well, cover and set aside.
In a medium saute pan over medium heat, add the diced bacon. Let cook for 4-5 minutes until starting to render, then add in the diced red and green pepper and onion. Stir well and let cook for another 6-8 minutes until bacon is cooked through and vegetables are softened. Pour the sauteed bacon and veggies into the oatmeal, then return the pan to the medium-low heat.
Crack the egg into the hot pan and let cook for about 3-4 minutes until the white sets. Remove to a plate and repeat with the second egg.
Split the oatmeal between two bowls, then top each with an egg and a shake of everything bagel seasoning, if desired!