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Asset Retirement Obligations (Tables)

6 Months Ended

Dec. 31, 2019

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 six months ended December 31, 2019 and for the year ended June 30, 2019:

	December 31, 2019				June 30, 2019
Asset retirement obligations — beginning of period	$	1,610,845			$	1,422,955
Liabilities incurred	903,580			(a)	31,268
Liabilities settled	(50,610		)		—
Liabilities sold	—				—
Accretion of discount	62,430				101,506
Revision of previous estimates	(32,504		)		55,116
Asset retirement obligations — end of period	$	2,493,741			$	1,610,845
Less current portion in accrued liabilities	—				(50,244		)
Long-term portion of asset retirement obligations	$	2,493,741			$	1,560,601

(a) Liabilities incurred in fiscal 2020 were due to our acquisition of our Hamilton Dome interest.

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-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

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