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Asset Retirement Obligations
 6 Months Ended
Dec. 31, 2018
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, 2018 and for the year ended June 30, 2018:
 
December 31,
2018
 
June 30,
2018
Asset retirement obligations — beginning of period
$
1,422,955

 
$
1,288,743

Liabilities incurred
31,268

 
44,700

Accretion of discount
48,962

 
90,290

Revision of previous estimates
—

 
(778
)
Asset retirement obligations — end of period
$
1,503,185

 
$
1,422,955

Less current portion in accrued liabilities
(35,539
)
 
(35,539
)
Long-term portion of asset retirement obligations
$
1,467,646

 
$
1,387,416