Drain and rinse beans. Press Sauté; cook bacon in Instant Pot® until crisp. Drain off all but 2 tablespoons drippings. Add onion to pot; cook and stir 3 minutes or until softened and lightly browned. Add jalapeños, garlic and oregano; cook and stir 1 minute. Stir in beer, scraping up browned bits from bottom of pot. Stir in beans, tomatoes, water and salt; mix well.
Secure lid and move pressure release valve to Sealing position. Press Manual or Pressure Cook; cook at high pressure 22 minutes.
When cooking is complete, use natural release for 10 minutes, then release remaining pressure.
Press Sauté; cook 3 minutes, mashing beans slightly until broth is thickened and creamy. Stir in cilantro.