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Asset Retirement Obligations (Tables) | 6 Months Ended
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Dec. 31, 2020
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, 2020 and for the year ended June 30, 2020:
| December 31, 2020 |  | June 30, 2020 |
Asset retirement obligations — beginning of period | $ | 2,588,894 |  |  | $ | 1,610,845 |  |
Liabilities incurred | — |  |  | 944,278 |  | (c)
Liabilities settled | (99,231) |  | (a) | (86,592) |  | (d)
Accretion of discount | 87,853 |  |  | 146,504 |  |
Revision of previous estimates | 91,430 |  | (b) | (26,141) |  |
Asset retirement obligations — end of period | $ | 2,668,946 |  |  | $ | 2,588,894 |  |
Less: current asset retirement obligations | 22,264 |  |  | — |  |
Long-term portion of asset retirement obligations | $ | 2,646,682 |  |  | $ | 2,588,894 |  |
(a) Abandonment of two non-scheduled Delhi field wells. (b) Upward revisions for two difficult-to-plug Delhi field wells. (c) Liabilities incurred in fiscal 2020 were primarily due to our acquisition of our Hamilton Dome interest. (d) The respective operators abandoned one well in the Delhi field and four wells in the Hamilton Dome 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://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 + Details
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