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Asset Retirement Obligations
 6 Months Ended
Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
Asset Retirement Obligations
 
Our asset retirement obligations represent the estimated present value of the amount we expect to 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 obligations for the six months ended December 31, 2017 and for the year ended June 30, 2017:
 
December 31,
2017
 
June 30,
2017
Asset retirement obligations — beginning of period
$
1,288,743

 
$
962,196

Liabilities incurred
—

 
52,792

Liabilities settled
—

 
(157,164
)
Liabilities sold
—

 
(47,817
)
Accretion of discount
44,602

 
59,664

Revision of previous estimates
(778
)
 
419,072

Asset retirement obligations — end of period
$
1,332,567

 
$
1,288,743

Less current portion in accrued liabilities
(35,539
)
 
(35,115
)
Long-term portion of asset retirement obligations
$
1,297,028

 
$
1,253,628