Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligations (Tables)

v2.4.0.8
Asset Retirement Obligations (Tables)
 12 Months Ended
Jun. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations Roll-Forward
The following table summarizes the asset retirement obligation activity for the fiscal years ended:
 
June 30,
 
2014
 
2013
 
(In thousands)
Fiscal year opening balance
$
6,879

 
$
7,784

Liabilities assumed
7

 
3

Accretion expense
367

 
433

Sale of assets (1)
(4,457
)
 
—

Revision to estimate (2)
—

 
(758
)
Effect of exchange rate changes
77

 
(583
)
Fiscal year closing balance
2,873

 
6,879

Less current asset retirement obligations
397

 
476

Long term asset retirement obligations
$
2,476

 
$
6,403

(1) Related to the sale of the Amadeus Basin assets
(2) The revision primarily resulted from a change in the expected timing of estimated abandonment cost for our oil and gas properties.