You may find this hard to credit, but I'm as much in favor of reducing our dependence on foreign oil as anyone on this topic, but they've been drilling in the Bakken for more than twenty years now, which provides a pretty good timeline to judge results, and here's a petroleum engineer's not-overly-technical take on it.
http://www.theoildrum.com/node/3868
Total production is rising because so many new wells have been going in, but yield per well is down. Overall it seems to yield good oil, but in comparatively small quantities compared with what is thought of in the oil community as a good oil field. And he thinks that the USGS figures on recoverability are pretty unlikely, and if I remember correctly it would yield only about 0.4% of the oil we get from abroad. Which ain't a whole lot.
Parenthetically, I suspect that one thing our descendants are going to be very, very pissed at us about is our wasting petroleum on one-time uses, like gasoline--you burn it up and it's gone. It's the base material for literally thousands of other, more durable uses (remember the line from "The Graduate": "One word: Plastics"), (I exclude thin plastic grocery bags from meritorious uses), and we're literally throwing it to the four winds, and they're gonna be really mad.