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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                      DECEMBER 24, 2003 (DECEMBER 24, 2003)



                          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 EVENTS

Chesapeake Energy Corporation  ("Chesapeake") issued a Press Release on December
24, 2003. The following was included in the Press Release:


                     CHESAPEAKE ENERGY CORPORATION ANNOUNCES
                    EXTENSION OF SENIOR NOTES EXCHANGE OFFER


OKLAHOMA CITY,  December 24, 2003 -- Chesapeake  Energy  Corporation  (NYSE:CHK)
announced  today that it has extended its  previously  announced  exchange offer
(the "Offer") for its 8.125% Senior Notes due April 1, 2011 (the "Notes") (CUSIP
No. 165167AS6). Chesapeake said that it has extended the deadline for holders to
receive  the  early  participation  payment,  the  withdrawal  deadline  and the
expiration date for the offer.

As amended,  the deadline for holders to receive an early participation  payment
in cash of $10.00 for each $1,000 principal amount of Notes validly tendered and
accepted for exchange, and the deadline for holders to withdraw tenders, is 5:00
p.m., Eastern Standard Time, on Friday, January 9, 2004.

The new expiration  date for the Offer is 5:00 p.m.,  Eastern  Standard Time, on
Monday,  January 12, 2004. Settlement for Notes validly tendered and accepted is
expected to be made on Wednesday, January 14, 2004.

The Offer has been  amended to provide that it will only be  consummated  after,
and subject to, the prior  completion of an offering of Chesapeake  common stock
with gross proceeds to the company of at least $225 million.

All other  terms and  conditions  of the  Offer  remain in effect as  previously
announced.  Holders  who have  previously  tendered  Notes in the Offer need not
retender their Notes or take any other action in response to this announcement.

On December 22, 2003,  Chesapeake  announced that it has entered into agreements
to acquire $510 million of  Mid-Continent,  Permian Basin and onshore Gulf Coast
oil and natural gas assets. The company announced that it anticipates  financing
these acquisitions using  approximately 50% common equity and 50% debt. Although
these  acquisitions  are expected to be fully  closed by January 30,  2004,  the
closing of these acquisitions is not a condition to consummation of the Offer.

To date,  approximately  $380 million in aggregate  principal amount of the 2011
Notes  have  been  tendered,  including  approximately  $125  million  aggregate
principal  amount of Notes  tendered in exchange  for new 7.75% Senior Notes due
2015 and approximately $255 million aggregate principal amount of Notes tendered
in exchange for new 6.875% Senior Notes due 2016.

The terms of the Offer are  described in the Company's  Offer to Exchange  dated
December 1, 2003, as amended by a Prospectus Supplement dated December 24, 2003,
which is being sent to holders.  Copies of the offer  documents  may be obtained
from D.F.  King & Co.,  Inc.,  the  information  agent for the  Offer,  at (800)
431-9633 (U.S. toll-free) and (212) 269-5550 (collect).

Banc of America Securities LLC, Deutsche Bank Securities and Lehman Brothers are
the joint lead dealer managers in connection with the Offer. Questions regarding
the Offer may be directed to Banc of America  Securities LLC, High Yield Special
Products,  at 888-292-0070 (US toll-free) and 704-388-4813  (collect),  Deutsche
Bank Securities,  High Yield Capital Markets,  212-250-7466  (collect) or Lehman
Brothers, 800-438-3242 (U.S. toll-free) and 212-528-7581 (collect).

This press release shall not constitute an offer to sell or the  solicitation of
an offer to buy any security and shall not constitute an offer,  solicitation or
sale in any  jurisdiction in which such offering,  solicitation or sale would be
unlawful.


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 NATURAL GAS
PRODUCERS IN THE U.S.  HEADQUARTERED IN OKLAHOMA CITY, THE COMPANY'S  OPERATIONS
ARE FOCUSED ON EXPLORATORY  AND  DEVELOPMENTAL  DRILLING AND PRODUCING  PROPERTY
ACQUISITIONS IN THE MID-CONTINENT REGION OF THE UNITED STATES.

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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:        December 24, 2003

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