SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549



                                    FORM 8-K


              CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934



                DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
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                           MAY 20, 2004 (MAY 19, 2004)


                          CHESAPEAKE ENERGY CORPORATION
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             (Exact name of Registrant as specified in its Charter)



        OKLAHOMA                     1-13726                     73-1395733
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(State or other jurisdiction   (Commission File No.)           (IRS Employer
      of incorporation)                                     Identification No.)


 6100 NORTH WESTERN AVENUE, OKLAHOMA CITY, OKLAHOMA                73118
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     (Address of principal executive offices)                   (Zip Code)



                                 (405) 848-8000
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              (Registrant's telephone number, including area code)



                    INFORMATION TO BE INCLUDED IN THE REPORT


ITEM 5.  OTHER MATTERS

Chesapeake Energy Corporation  ("Chesapeake")  issued a Press Release on May 19,
2004. The following was included in the Press Release:


                     CHESAPEAKE ENERGY CORPORATION ANNOUNCES
                        PRIVATE OFFERING OF SENIOR NOTES

OKLAHOMA CITY, OKLAHOMA, MAY 19, 2004 - Chesapeake Energy Corporation (NYSE:CHK)
today  announced  that it intends to  commence a private  placement  offering to
eligible purchasers of $300 million of a new issue of senior notes due 2014. The
notes are  expected  to be  eligible  for resale  under Rule 144A.  The  private
offering,  which is subject to market and other conditions,  will be made within
the United States only to qualified institutional buyers, and outside the United
States only to non-U.S. investors.

Chesapeake  intends  to use the net  proceeds  of the  offering,  together  with
borrowings  under its credit  facility and cash on hand, to fund its  previously
announced $425 million pending acquisition of Greystone Petroleum LLC.

The notes being offered have not been  registered  under the  Securities  Act of
1933 or applicable  state securities laws, and may not be offered or sold in the
United  States  absent   registration  or  an  applicable   exemption  from  the
registration  requirements of the Securities Act and applicable state laws. This
announcement shall not constitute an offer to sell or a solicitation of an offer
to buy the notes.


THIS DOCUMENT CONTAINS FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF SECTION
27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT
OF 1934.  FORWARD-LOOKING  STATEMENTS  INCLUDE  ESTIMATES  AND GIVE OUR  CURRENT
EXPECTATIONS   OR   FORECASTS  OF  FUTURE   EVENTS.   ALTHOUGH  WE  BELIEVE  OUR
FORWARD-LOOKING  STATEMENTS ARE  REASONABLE,  THEY CAN BE AFFECTED BY INACCURATE
ASSUMPTIONS OR BY KNOWN OR UNKNOWN RISKS AND UNCERTAINTIES.

Chesapeake Energy Corporation is one of the six largest independent U.S. natural
gas producers.  Headquartered  in Oklahoma  City,  the company's  operations are
focused  on  exploratory  and  developmental  drilling  and  producing  property
acquisitions in the Mid-Continent,  Permian Basin, South Texas, Texas Gulf Coast
and Ark-La-Tex  regions of the United States.  The company's internet address is
WWW.CHKENERGY.COM.

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                                    SIGNATURE


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                            CHESAPEAKE ENERGY CORPORATION



                                    By:     /S/ AUBREY K. MCCLENDON
                                            -----------------------------------
                                                Aubrey K. McClendon
                                             Chairman of the Board and
                                             Chief Executive Officer

Dated:        May 20, 2004

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