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)
-------------------------------------------------------------------------------
                           JUNE 10, 2004 (JUNE 9, 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
-------------------------------------------------------------------------------
       (Address of principal executive offices)                  (Zip Code)



                                 (405) 848-8000
-------------------------------------------------------------------------------
              (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 June 9,
2004. The following was included in the Press Release:

                CHESAPEAKE ENERGY CORPORATION ANNOUNCES INCREASED
                  COMMON STOCK DIVIDEND AND DECLARES QUARTERLY
                            PREFERRED STOCK DIVIDENDS

OKLAHOMA CITY, OKLAHOMA, JUNE 9, 2004 - Chesapeake Energy Corporation (NYSE:CHK)
today  announced  that its Board of  Directors  has  declared a $0.045 per share
quarterly dividend that will be paid on July 15, 2004 to common  shareholders of
record on July 1,  2004,  an  increase  of $0.01 per  share  from the  quarterly
dividend paid on April 15, 2004. Chesapeake has approximately 242 million common
shares outstanding.

Chesapeake's  Board has also declared a quarterly cash dividend on  Chesapeake's
4.125% Cumulative Convertible Preferred Stock, par value $0.01. The dividend for
the 4.125%  preferred  stock is  payable  on  September  15,  2004 to  preferred
shareholders  of record on September 1, 2004 at the  quarterly  rate of $10.3125
per share.  Chesapeake has 313,250 shares of 4.125% preferred stock  outstanding
with a liquidation value of $313.3 million.

Chesapeake's  Board has also declared a quarterly cash dividend on  Chesapeake's
6.75% Cumulative  Convertible Preferred Stock, par value $0.01. The dividend for
the  6.75%   preferred  stock  is  payable  on  August  16,  2004  to  preferred
shareholders  of record on August 2, 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 $0.01. The dividend for
the 5.0% preferred stock is payable on August 16, 2004 to preferred shareholders
of record on August 2, 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 $0.01. The
dividend  for the 6.0%  preferred  stock is payable  on  September  15,  2004 to
preferred  shareholders  of record on September 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, TEXAS GULF COAST
AND ARK-LA-TEX  REGIONS OF THE UNITED STATES.  THE COMPANY'S INTERNET ADDRESS IS
WWW.CHKENERGY.COM.


                                       2

                                    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:  June 10, 2004

                                       3