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Asset Retirement Obligations
 12 Months Ended
Jun. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
Note 7—Asset Retirement Obligations
Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon and remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following is a reconciliation of the beginning and ending asset retirement obligation for the years ended June 30, 2014 and 2013:

 
Years Ended
 
2014
 
2013
Asset retirement obligations—beginning of period
$
615,551

 
$
968,677

Liabilities incurred
—

 
60,143

Liabilities settled
(323,665
)
 
(51,086
)
Liabilities sold
(48,273
)
 
(439,927
)
Accretion of discount
41,626

 
72,312

Revisions to previous estimates
66,976

 
5,432

Less: current asset retirement obligations
(146,703
)
 
—

Asset retirement obligations—end of period
$
205,512

 
$
615,551