Preheat the oven to 350 degrees.
Wash the rice really, really well and eliminate excess water.
Heat the oil olive in a large aluminum pan and once hot, cook the onions. Fry them until they are golden brown - you want them very cooked.
Add the bacon to the onions.
When the bacon has cooked, release all the fat (don't let it get crispy), and add the rice. Stir fry it with the onions and bacon, about 3 minutes.
Pour the 2 cans of beans (with the liquid) in the pan, add the water, and stir. Once it starts to boil, put the lid on the pan, and put it in the oven for 18 minutes.
After 18 minutes, open the oven, pull the tray out, and fluff the rice with a fork.
Put the lid back on and cook the rice for another 18 minutes.
When done, glaze it with a small amount of olive oil, and fluff the rice again.