In a medium bowl, combine the rice and 2 cups of the water. Let the rice soak for at least 10 minutes to allow the grains to separate. This will also help to prevent the rice from becoming soft and sticky. Pour the contents through a fine mesh sieve to drain.
Over medium-low heat in a medium skillet, melt the butter. Add the rice and cook for about 5-7 minutes or until the aroma of it toasting becomes fragrant.
Add the juice of one of the limes and stir for one minute. Pour in the remaining 2 cups of water, and stir in the salt. Bring to a boil. Cover and simmer for 10-15 minutes until all water is absorbed.
Remove from heat and stir with a fork to fluff. Gently mix in cilantro and juice from the second lime, if desired. Replace the cover and let sit for 2-3 minutes before serving.
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