Asset Retirement Obligations

3 Months Ended

Sep. 30, 2019

Asset Retirement Obligation Disclosure [Abstract]

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 three months ended September 30, 2019 and for the year ended June 30, 2019:



	September 30, 2019			June 30, 2019
Asset retirement obligations — beginning of period	$	1,610,845		$	1,422,955
Liabilities incurred	—			31,268
Accretion of discount	26,287			101,506
Revision of previous estimates	—			55,116
Asset retirement obligations — end of period	$	1,637,132		$	1,610,845
Less current portion in accrued liabilities	(50,244		)	(50,244		)
Long-term portion of asset retirement obligations	$	1,586,888		$	1,560,601