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Asset Retirement Obligations (Tables) | 9 Months Ended
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Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract] |
Schedule of reconciliations of the beginning and ending asset retirement obligation balances | The following is a reconciliation of the beginning and ending asset retirement obligations for the nine months ended March 31, 2017 and for the year ended June 30, 2016:
| March 31, 2017 |  | June 30, 2016
Asset retirement obligations — beginning of period | $ | 962,196 |  |  | $ | 772,990 |
Liabilities incurred | 14,119 |  |  | 28,505 |
Liabilities settled | (157,164 | ) |  | — |
Liabilities sold (a) | (47,817 | ) |  | — |
Accretion of discount | 39,892 |  |  | 49,054 |
Revision of previous estimates | — |  |  | 111,647 |
Asset retirement obligations — end of period | $ | 811,226 |  |  | $ | 962,196 |
Less current portion in accrued liabilities (b) | — |  |  | (201,896 | )
Long-term portion of asset retirement obligations | $ | 811,226 |  |  | $ | 760,300 |
(a) We conveyed our interest in a well to the previous operator in exchange for the assumption of our asset retirement obligation. (b) As we have now retired our remaining operated wells, our asset retirement obligations consist entirely of our working interest obligations in the Delhi field.

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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13201-110859 + Details
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