Rinse rice in a fine-mesh strainer under cold water until water runs clear. Drain well.

In a medium saucepan, melt butter over medium heat. Add rice and stir for about 2 minutes until edges are translucent.

Pour in water and salt. Bring to a boil, then cover, reduce heat to low, and simmer for 15 minutes without lifting lid.

Remove from heat and let sit, covered, for 5 minutes. Fluff with a fork.

Stir in lime juice, lime zest, and cilantro. Toss gently, then taste and add a small pat of butter or salt if needed. Serve warm.