In a large pot, melt the butter over medium heat. Add the chopped onion and sauté for about 3-4 minutes until the onion becomes translucent and fragrant.
Stir in the long grain rice and toast it for an additional 2-3 minutes, allowing the rice to absorb the flavors of the onion.
Pour in the Old El Paso Chopped Green Chiles and the Old El Paso Red Enchilada Sauce. Then, add the water and stir well to combine.
Bring the mixture to a boil. Once boiling, reduce the heat to low, cover the pot, and let it simmer for about 20 minutes, or until the rice is tender and has absorbed all the liquid.
Once the rice is cooked, stir in the shredded cheese until it is completely melted and combined.
Serve your Cheesy Enchilada Rice hot, garnished with chopped scallions for an added fresh touch. Enjoy this delightful dish with your favorite sides or on its own!