Cook the Beef: In a large skillet, heat olive oil over medium-high heat. Add ground beef and chopped onion, seasoning with salt, pepper, and garlic powder. Cook until beef is browned and onions are soft. Drain excess fat if needed.
Combine Ingredients: Reduce heat to medium. Stir in both cans of soup, beef broth, rice, sour cream, and half of the cheese. Mix until everything is well combined.
Simmer or Bake:
Option 1 (Stovetop): Cover the skillet and simmer for about 20 minutes, stirring occasionally, until the rice is tender.
Option 2 (Oven): Transfer mixture to a greased casserole dish, cover with foil, and bake at 350°F for 30 minutes. Remove foil, sprinkle extra cheese on top, and bake uncovered for an additional 10 minutes until bubbly and golden.
Serve: Let it rest for 5 minutes before serving. The rice will absorb the flavors even more as it sits.