Cook the rice according to package directions. In the meantime, in a small bowl, combine the tequila, triple sec, lime juice and sugar. Mix well and set aside.
Cut the chicken in ½ lengthwise & pound to ¼ inch thick. Rince the chicken under cold water then pat dry with paper towel. Season the chicken with salt and pepper then lightly dredge in flour; shaking off the excess.
In a skillet, over medium heat, add ½ the butter and ½ the oil and when hot, working in batches, sear the chicken until lightly browned, and cooked through, about 3 to 4 min per batch. Remove and set aside.
Stir the tequila mixture and add it to the skillet, add in the cilantro and bring to a boil. Return the chicken, reduce heat to low and simmer until slightly thickened, about 6 to 8 minute Plate and serve along side the rice.