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Preheat oven to 350°F.
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Dice the onion and add to a 2 quart casserole dish that has a lid. Slice the hot dogs into 1/2 inch thick coins and add to onion. Mix the soup into hot dogs & onion. Add the water and stir until the soup is dissolved.
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Add the rice, black pepper and parsley and stir again.
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Bake for 10 minutes with the lid off. Remove from the oven and stir. Bake for an additional 25-35 minutes with the lid on.