CHESAPEAKE ENERGY CORP
8-K, 1997-10-01
CRUDE PETROLEUM & NATURAL GAS
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                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)          SEPTEMBER 19, 1997



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


     OKLAHOMA                       1-13726                  73-1395733
(State or other jurisdiction      (Commission               (IRS Employer 
      of incorporation)           File Number)            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)

<PAGE>

             INFORMATION TO BE INCLUDED IN THE REPORT


ITEM 5.   OTHER EVENTS

     On September 19, 1997, Chesapeake Energy Corporation ("Chesapeake") issued
a  press release announcing the declaration of a quarterly cash dividend on the
company's $.01 par value common stock.  The September 19, 1997 press release is
filed herewith as Exhibit 99 and incorporated herein by reference.


ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS

     (c)  Exhibits.   The following exhibit is filed herewith:

          99   Press Release issued by the Registrant on September 19, 1997.

<PAGE>

                             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:       MARCUS C. ROWLAND
                                        Marcus C. Rowland
                                    Vice President - Chief Financial Officer

Dated: September 29, 1997

<PAGE>
__________________________EXHIBIT INDEX______________________________


<TABLE>
<CAPTION>
EXHIBIT   DESCRIPTION                     METHOD OF FILING
<S>       <C>                             <C>
99        Press Release issued by the     Filed herewith electronically
          Registrant on September 29, 
          1997.

</TABLE>

                                 CONTACT: MARC ROWLAND, CHIEF FINANCIAL OFFICER
                                                        (405)848-8000, EXT. 232

FOR IMMEDIATE RELEASE                           TOM PRICE, JR., VICE PRESIDENT-
SEPTEMBER 19, 1997                                        CORPORATE DEVELOPMENT
                                                       (405) 848-8000, EXT. 257


                         CHESAPEAKE ENERGY CORPORATION
                   ANNOUNCES CASH DIVIDEND FOR SHAREHOLDERS

OKLAHOMA  CITY,  OKLAHOMA,  SEPTEMBER 19, 1997 -- Chesapeake Energy Corporation
(NYSE:CHK) today announced the  declaration of a quarterly cash dividend on the
company's $.01 par value common stock.   The dividend is payable on October 15,
1997, to shareholders of record on September  30, 1997, at the rate of $.02 per
share.

                                     ####


CHESAPEAKE ENERGY CORPORATION IS AN INDEPENDENT  OIL  AND  NATURAL GAS PRODUCER
HEADQUARTERED IN OKLAHOMA CITY WHICH SPECIALIZES IN UTILIZING ADVANCED SEISMIC,
DRILLING AND COMPLETION TECHNOLOGIES TO DEVELOP NEW RESERVES OF OIL AND NATURAL
GAS.   THE  COMPANY'S  OPERATIONS ARE FOCUSED ON EXPLORATORY AND  DEVELOPMENTAL
DRILLING IN MAJOR ONSHORE PRODUCING AREAS OF THE UNITED STATES.



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