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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 17, 1999
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(SEPTEMBER 17, 1999)
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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 (IRS Employer Identification No.)
of incorporation) File Number)
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)
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS
On September 17, 1999, Chesapeake Energy Corporation ("Chesapeake")
issued a press release to announce the planned sale of Gothic Energy
Corporation common stock. The September 17, 1999 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 17, 1999.
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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/ AUBREY K. MCCLENDON
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AUBREY K. MCCLENDON,
Chairman of the Board and
Chief Executive Officer
Dated: September 17, 1999
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EXHIBIT INDEX
EXHIBIT DESCRIPTION
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99 Press Release issued by the Registrant on September 17, 1999.
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EXHIBIT 99
CONTACT: MARC ROWLAND,
CHIEF FINANCIAL OFFICER
(405) 879-9232
FOR IMMEDIATE RELEASE TOM PRICE, VICE PRESIDENT-
SEPTEMBER 17, 1999 CORPORATE DEVELOPMENT
(405) 879-9257
CHESAPEAKE ENERGY CORPORATION ANNOUNCES
PLANNED SALE OF GOTHIC ENERGY COMMON STOCK
OKLAHOMA CITY, OKLAHOMA, SEPTEMBER 17, 1999 - Chesapeake Energy Corporation
(NYSE:CHK) today announced that contingent upon acceptable market conditions
and in accordance with the Securities and Exchange Commission's Rule 144, the
company intends to sell its recently acquired 2,394,125 common shares of Gothic
Energy Corporation (OTC Bulletin Board: GOTH) in open-market or privately
negotiated transactions.
The company continues to own 100% of Gothic's 12% Series B Preferred stock
which has accreted to $57.5 million in liquidation value. Furthermore, the
company continues to actively develop oil and gas properties jointly owned with
Gothic that are subject to the Chesapeake/Gothic 1998 joint venture.
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The information in this release includes certain forward-looking statements
that are based on assumptions that in the future may prove not to have been
accurate. Those statements, and Chesapeake Energy Corporation's business and
prospects, are subject to a number of risks, including production variances
from expectations, uncertainties about estimates of reserves, volatility of oil
and gas prices, the need to develop and replace reserves, the substantial
capital expenditures required to fund operations, environmental risks, drilling
and operating risks, risks related to exploratory and developmental drilling,
competition, government regulation, and the ability of the company to implement
its business strategy. These and other risks are described in the company's
documents and reports that are available from the United States Securities and
Exchange Commission, including the report filed on Form 10-K for the year ended
December 31, 1998 and the report filed on Form 10-Q for the quarter ended June
30, 1999.
Chesapeake Energy Corporation is an independent natural gas producer
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.chesapeake-energy.com.
