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)
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                           JUNE 3, 2004 (May 28, 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
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              (Registrant's telephone number, including area code)



                    INFORMATION TO BE INCLUDED IN THE REPORT


ITEM 5.  OTHER MATTERS

Chesapeake  Exploration  Limited  Partnership,  a  wholly  owned  subsidiary  of
Chesapeake  Energy  Corporation,  entered  into an  International  Swap  Dealers
Association,  Inc.  ("ISDA")  Master  Agreement with Deutsche Bank AG on May 28,
2004.  The ISDA Master  Agreement,  Schedule to the ISDA  Master  Agreement  and
Credit  Support Annex to the Schedule to the ISDA Master  Agreement are filed as
Exhibits  99.1,  99.2  and  99.3  to this  current  report  on Form  8-K and are
incorporated in their entirety into Item 5 of this report.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits. The following exhibits are filed herewith:

       99.1   ISDA Master Agreement

       99.2   Schedule to the ISDA Master Agreement

       99.3   Credit Support Annex to the Schedule to the ISDA Master Agreement




                                    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:   June 3 2004