Heat a large skillet over medium heat and add a splash of oil. Add hash browns in an even layer and cook for 5–7 minutes until golden brown and crispy.

Cook bacon in a separate pan over medium heat for 4–5 minutes until crispy. Remove bacon and reserve drippings in the pan.

Add flour to the reserved drippings to create a roux. Whisk in milk and heavy cream gradually, stirring for 3–5 minutes until thickened.

Crumble bacon into the gravy and stir to combine, cooking for another 2 minutes. Season to taste with salt and pepper.

Whisk eggs with warm water and cook over low heat for 5–7 minutes, stirring gently until soft and fluffy.

Assemble by placing hash browns on plates, topping with eggs, and drizzling with bacon gravy.