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Asset Retirement Obligations
 12 Months Ended
Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
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, 2016 and 2015:
 
Years Ended
 
2016
 
2015
Asset retirement obligations—beginning of period
$
772,990

 
$
352,215

Liabilities incurred (a)
28,505

 
564,019

Liabilities settled
—

 
(137,604
)
Liabilities sold
—

 
(52,526
)
Accretion of discount
49,054

 
34,866

Revisions to previous estimates
111,647

 
12,020

Asset retirement obligations — end of period
962,196

 
772,990

Less: current asset retirement obligations
(201,896
)
 
(57,223
)
Long-term portion of asset retirement obligations
$
760,300

 
$
715,767


(a) Liabilities incurred during fiscal 2015 relate to our share of the estimated abandonment costs of the wells and facilities in the Delhi field subsequent to the reversion of our working interest.