Asset Retirement Obligations (Tables)

12 Months Ended

Jun. 30, 2020

Asset Retirement Obligation Disclosure [Abstract]

Schedule of reconciliation of the beginning and ending asset retirement obligation

The following is a reconciliation of the beginning and ending asset retirement obligations for the years ended June 30, 2020 and 2019:

	Years Ended
	2020				2019
Asset retirement obligations — beginning of period	$	1,610,845			$	1,422,955
Liabilities incurred	944,278			(a)	31,268
Liabilities settled	(86,592		)	(b)	—
Accretion of discount	146,504				101,506
Revisions to previous estimates	(26,141		)		55,116
Asset retirement obligations — end of period	2,588,894				1,610,845
Less: current asset retirement obligations	—				(50,244		)
Long-term portion of asset retirement obligations	$	2,588,894			$	1,560,601

(a) Liabilities incurred in fiscal 2020 included $0.9 million from our acquisition of our Hamilton Dome interest and remainder related to facilities at the Delhi field.

(b) We abandoned one well in the Delhi field and four wells in the Hamilton Dome field.