Melt butter in non-stick 7-inch skillet. Beat egg and water together until smooth and lemon colored. Cook on medium heat until small bubbles form and egg is slightly firm around the edges. Flip egg over and remove from heat.
Place shredded cheese in a line across the middle of the egg. Add Philadelphia Cream Cheese on top of this (also in a line along the middle). Fold over one side then the other.
Slide onto plate, roll so fold is down. Put diced green chilies on top. Serve with your choice of breakfast meats. I use two strips of bacon which has cooked for two minutes in microwave while I prepare egg.