CHESAPEAKE ENERGY CORP
8-K, 1998-07-02
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                                                     JULY 2, 1998
                                                                  -------------

DATE OF EARLIEST EVENT REPORTED                                   JUNE 22, 1998
                                                                  -------------



                          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)








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                    INFORMATION TO BE INCLUDED IN THE REPORT


ITEM 5.  OTHER EVENTS

     On June 22, 1998, Chesapeake Energy Corporation ("Chesapeake") issued a
press release to announce the declaration of quarterly cash dividends on the
company's common stock and its 7% convertible preferred stock. The June 22,
1998 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 June 22, 1998.






















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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/  MARCUS C. ROWLAND
                                                       ----------------------
                                                             Marcus C. Rowland,
                                                      Senior Vice President and
                                                        Chief Financial Officer

Dated: July 2, 1998
















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                                 EXHIBIT INDEX



EXHIBIT           DESCRIPTION
- -----------------------------

99                Press Release issued by the Registrant on June 22, 1998.
























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<PAGE>   1
                                                                      EXHIBIT 99



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

FOR IMMEDIATE RELEASE                           TOM PRICE, JR., VICE PRESIDENT-
JUNE 22, 1998                                             CORPORATE DEVELOPMENT
                                                        (405)848-8000, EXT. 257


                          CHESAPEAKE ENERGY CORPORATION
                    ANNOUNCES CASH DIVIDENDS FOR SHAREHOLDERS

OKLAHOMA CITY, OKLAHOMA, JUNE 22, 1998 -- Chesapeake Energy Corporation
(NYSE:CHK) today announced the declaration of quarterly cash dividends on the
company's common stock and its 7% convertible preferred stock. The dividend for
the common stock is payable on July 15, 1998, to shareholders of record on June
30, 1998, at the rate of $.02 per share. The dividend for the preferred stock is
payable on August 1, 1998, to shareholders of record on June 30, 1998, at the
rate of $.875 per share.


                                      ####


Chesapeake Energy Corporation is an independent oil and natural gas producer
headquartered in Oklahoma City. The company's operations are focused on
exploratory and developmental drilling and producing property and corporate
acquisitions in major onshore producing areas of the United States and Canada.
The company's internet address is http://www.chesapeake-energy.com.










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