Combine the black-eyed peas and water in a large pot. Bring to a boil, then reduce heat and simmer for 25 minutes, or until tender.
While the peas are simmering, crumble the bacon in a skillet. If using uncooked bacon, cook until crispy and remove from the skillet, reserving the rendered fat.
Add the butter to the skillet with the bacon (or rendered fat if using uncooked bacon). Stir to combine.
Stir in the chicken seasoning.
Add the seasoned butter and bacon to the black-eyed peas. Stir to combine.