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Cook the chicken: In a large skillet or braiser, heat the olive oil and butter over medium-high heat. Add the chicken thigh pieces and sprinkle the Tex Mex seasoning over the chicken. Stir and cook for 5 until the chicken is browned.
Cook onion and peppers: To the skillet, add the onion and bell peppers and cook for 3 to 4 minutes, until softened. Add the garlic and cook for another 30 seconds until aromatic.
Cook the rice: Next, add the tomatoes, black beans, corn, chili powder, cumin, chicken broth and rice. Stir everything and bring to a boil. Cover the skillet, reduce the heat to low and simmer for 20-25 minutes, stirring halfway through. The rice is done when all the liquid has been absorbed and the rice is tender. Remove from heat.
Finish the rice: Add 1 cup of the cheese and gently stir. Top with remaining ½ cup of shredded cheese, cover and let it sit for about 3 minutes or until the cheese melts. Garnish with fresh cilantro and serve with lime wedges.