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Asset Retirement Obligations
 6 Months Ended
Dec. 31, 2020
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. During the six months ended December 31, 2020, the Delhi field operator abandoned two wells. Presently, we expect the Hamilton Dome operator to plug two wells during the next twelve months. 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 discount87,853 146,504 
Revision of previous estimates91,430 (b)(26,141)
Asset retirement obligations — end of period$2,668,946 $2,588,894 
Less: current asset retirement obligations22,264 — 
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.