In a stand mixer, fitted with the paddle attachment, add the softened butter and the shortening. (Can also use a hand mixer.)Mix on medium speed until creamed together well, about 1 minute. Add in the white sugar and brown sugar and cream again until well mixed.
Next, add in the eggs, molasses and vanilla. Mix well, scraping down the bowl as needed.
In a separate bowl combine the dry ingredients (oats, flour, cinnamon, salt, and baking soda). Mix well.
Slowly add the combined dry ingredients to the wet mixture. Mix on medium speed until well incorporated.Note: the cookie dough will be much thinner than typical cookie dough; this is what allows it to bake into thin chewy oatmeal cookies. Line a large baking sheet with parchment paper.Using a 1-2 tablespoon cookie scoop, scoop the dough onto the parchment-lined baking sheet.Chill the dough in the freezer for 15-20 minutes. Meanwhile, preheat the oven to 330°F.
Once you remove the dough from the freezer, place dough balls on a new parchment-lined baking sheet about 3-4 inches apart from each other (they will spread). Using the back of a spatula or your hand, slightly press each cookie dough ball down, so it flattens a little bit before baking. This will help the cookie to spread wider while baking. Bake in preheated oven for 9-12 minutes, until the edges are slightly golden and the middle is still soft.Let the cookies rest and cool on the pan they baked in. This will help the bottoms set.