Peak Oil? What Peak Oil? -- All-Time High, 2018 Data -- EIA -- December 17, 2019

Link here. The lede:

Another year of stronger oil and natural gas prices increased 2018 oil and natural gas proved reserves in the United States to another all-time record level. Crude oil and lease condensate proved reserves rose by 12%, and natural gas proved reserves rose by 9%. U.S. crude oil and lease condensate production increased by 17%, and U.S. total natural gas production increased by 12%.

• Producers in Texas added 2.3 billion barrels of crude oil and lease condensate proved reserves, the largest net increase of all states in 2018. The increase was a result of increased prices and development in the Permian Basin of West Texas. 
• The next largest net gains in crude oil and lease condensate proved reserves in 2018 were in New Mexico (750 million barrels) and in North Dakota (422 million barrels).

I'm not convinced the "increase was a result of increased prices."

The fact that the EIA specifically ignored technological advances speaks volumes. Even more egregious: ignoring the favorable environment for the US oil sector promoted by President Trump.

Back to some arithmetic. From the report:

North Dakota had the third-largest increase in crude oil and lease condensate proved reserves (422 million barrels) in 2018—an increase of 8% from 2017. North Dakota (and western Montana) is the core area of the Bakken shale play in the Williston Basin.

• So, if 422 million bbls equals an increase of 8% from 2017, then, 
• 422 = 0.08 x '2017 reserves'
• 422 / 0.08 = '2017 reserves'
• 5,275 million bbls of crude oil and lease condensate proved reserves or 5.275 billion bbls
• at 1.5 million bopd --
• 365 x 1.5 million bopd = 547.5 million bbls
• x ten years = 5.475 billion bbls

To date, total production from:

• the Bakken: 2,724,954,473 bbls (2.7 billion bbls)
• the Bakken/Three Forks: 17,186,193 bbls (17 million bbls)
• total oil produced in North Dakota: 4,616,619,414 bbls (4.6 billion bbls)

More from the EIA:

Proved reserves of crude oil in the United States increased 12%, from 39.2 billion barrels at year-end 2017 to 43.8 billion barrels at year-end 2018, setting another U.S. record for crude oil proved reserves. The previous record was set in 2017 (39.2 billion barrels).