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) DECEMBER 20, 2002
                               (DECEMBER 20, 2002)




                          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 20, 2002 announcing the declaration of quarterly common and preferred
stock dividends. The following was included in the Press Release:

OKLAHOMA  CITY,  OKLAHOMA,  December 20, 2002 -- Chesapeake  Energy  Corporation
(NYSE:CHK)  today announced that its Board of Directors has declared a $0.03 per
share  quarterly  dividend  that  will be paid on  January  15,  2003 to  common
shareholders  of record on January 2, 2003.  Chesapeake  has  approximately  190
million common shares outstanding.

In  addition,  Chesapeake's  Board has  declared a  quarterly  cash  dividend on
Chesapeake's 6.75% Cumulative  Convertible  Preferred Stock, par value $.01. The
dividend  for the  preferred  stock is payable on February 17, 2003 to preferred
shareholders of record on February 3, 2003 at the quarterly rate of $0.84375 per
share. Chesapeake has 2.998 million shares of preferred stock outstanding with a
liquidation value of $150 million.

CHESAPEAKE  ENERGY  CORPORATION  IS ONE OF THE LARGEST  INDEPENDENT  NATURAL GAS
PRODUCERS IN THE U.S.  HEADQUARTERED IN OKLAHOMA CITY, THE COMPANY'S  OPERATIONS
ARE  FOCUSED  ON  DEVELOPMENTAL   DRILLING  AND  PROPERTY  ACQUISITIONS  IN  THE
MID-CONTINENT  REGION OF THE UNITED STATES.  THE COMPANY'S  INTERNET  ADDRESS IS
WWW.CHKENERGY.COM.

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.





                                    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:        November 20, 2002