UNITED STATES
                       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)
- -------------------------------------------------------------------------------
                          MARCH 9, 2004 (MARCH 8, 2004)


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


         OKLAHOMA                    1-13726                  73-1395733
- -------------------------------------------------------------------------------
(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 March 8,
2004. The following was included in the Press Release:


                CHESAPEAKE ENERGY CORPORATION DECLARES QUARTERLY
                      COMMON AND PREFERRED STOCK DIVIDENDS

OKLAHOMA  CITY,  OKLAHOMA,   MARCH  8,  2004  -  Chesapeake  Energy  Corporation
(NYSE:CHK) today announced that its Board of Directors has declared a $0.035 per
share  quarterly  dividend  that  will be  paid  on  April  15,  2004 to  common
shareholders  of record  on April 1,  2004.  Chesapeake  has  approximately  241
million common shares outstanding.

Chesapeake's  Board has also declared a quarterly cash dividend on  Chesapeake's
6.75% Cumulative  Convertible  Preferred Stock, par value $.01. The dividend for
the 6.75% preferred  stock is payable on May 17, 2004 to preferred  shareholders
of record on May 3, 2004 at the quarterly rate of $0.84375 per share. Chesapeake
has 2.998 million shares of 6.75% preferred stock outstanding with a liquidation
value of $150 million.

Chesapeake's  Board has also declared a quarterly cash dividend on  Chesapeake's
5.0% Cumulative  Convertible  Preferred  Stock, par value $.01. The dividend for
the 5.0% preferred stock is payable on May 17, 2004 to preferred shareholders of
record  on May 3,  2004 at the rate of $1.25  per  share.  Chesapeake  has 1.725
million shares of 5.0% preferred stock  outstanding with a liquidation  value of
$172.5 million.

In  addition,  Chesapeake's  Board has  declared a  quarterly  cash  dividend on
Chesapeake's  6.0% Cumulative  Convertible  Preferred Stock, par value $.01. The
dividend for the 6.0%  preferred  stock is payable on June 15, 2004 to preferred
shareholders of record on June 1, 2004 at the quarterly rate of $0.75 per share.
Chesapeake  has 4.6 million  shares of 6%  preferred  stock  outstanding  with a
liquidation value of $230 million.


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 AND TEXAS GULF
COAST  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:        March 9, 2004

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