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)
-------------------------------------------------------------------------------
                      DECEMBER 27, 2004 (DECEMBER 27, 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
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[X] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[_] Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[X] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))



SECTION 8 - OTHER EVENTS

ITEM 8.01 OTHER EVENTS.

On December 27,  2004,  Chesapeake  Energy  Corporation  issued a press  release
announcing the pricing for its offer to exchange  shares of its common stock for
each  outstanding  share of its 6.0%  Cumulative  Convertible  Preferred  Stock,
(Cusip Nos.  165167701 and 165167602  commenced on November 30, 2004. This press
release is attached as Exhibit 99.1.


SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 - FINAL STATEMENTS AND EXHIBITS.

         (c)  Exhibits

     EXHIBIT NO.             DOCUMENT DESCRIPTION
     -----------             --------------------

         99.1           Press Release dated December 27, 2004.


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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 hereunto duly authorized.


                                            CHESAPEAKE ENERGY CORPORATION


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

Date:         December 27, 2004


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                                  EXHIBIT INDEX


     EXHIBIT NO.             DOCUMENT DESCRIPTION
     -----------             --------------------

        99.1           Press Release dated December 27, 2004.


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