Baffin Bay Geological Survey has estimated that at least 13% of the world's undiscovered oil deposits and 30% of the world's undiscovered gas pockets are located in the Arctic, with the seas around Greenland potentially holding large amounts of natural gas and lesser amounts of crude oil and natural-gas liquids. Accordingly, the Greenland authorities have offered a large number of off-shore concessions for potential hydrocarbon (oil and gas) extraction. The largest concession-areas are located in seas west of Greenland; primarily in Baffin Bay and the Davis Strait, but with several smaller concessions in the Greenland Sea in the east also. Baffin Bay
Baffin Island to the southern part in winter, even to the Frobisher Bay peninsula, next to Resolution Island and migrate back north in the summer. In 2012, a survey of caribou herds found that the local population was only about 5000, a decrease of as much as 95% from the 1990s. Polar bears can be found all along the coast of Baffin Island, but are most prevalent where the sea ice takes the form of pack ice, where their major food sources — ringed seals (jar seal) and bearded seals — live. Polar bears mate approximately every year with from one to