EXHIBT 99.1
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                     CHESAPEAKE ENERGY CORPORATION ANNOUNCES
                       THIRD QUARTER 2004 EARNINGS RELEASE
                               AND CONFERENCE CALL


OKLAHOMA  CITY,  OKLAHOMA,  OCTOBER  4,  2004 -  Chesapeake  Energy  Corporation
(NYSE:CHK)  has scheduled  its third quarter 2004 earnings  release to be issued
after the close of trading on the New York Stock Exchange on Monday, November 1,
2004.

A conference call is scheduled for Tuesday morning, November 2 at 9:00 am EST to
discuss the  release.  The  telephone  number to access the  conference  call is
913.981.5520.  We encourage  those who would like to  participate in the call to
place your calls between 8:50 and 9:00 am EST.

For  those  unable to  participate  in the  conference  call,  a replay  will be
available  for audio  playback at 12:00 pm EST on Tuesday,  November 2, 2004 and
will run through  midnight  Monday,  November 15, 2004. The number to access the
conference call replay is 719.457.0820; passcode for the replay is 840912.

The  conference  call will also be  simulcast  live on the  Internet  and can be
accessed by going directly to the Chesapeake  website at  WWW.CHKENERGY.COM  and
selecting "Conference Calls" under the "Investor Relations" section. The webcast
of the conference call will be available on our website indefinitely.


CHESAPEAKE ENERGY CORPORATION IS ONE OF THE FIVE LARGEST  INDEPENDENT  PRODUCERS
OF  NATURAL  GAS IN THE U.S.  HEADQUARTERED  IN  OKLAHOMA  CITY,  THE  COMPANY'S
OPERATIONS ARE FOCUSED ON EXPLORATORY AND  DEVELOPMENTAL  DRILLING AND PRODUCING
PROPERTY  ACQUISITIONS IN THE  MID-CONTINENT,  PERMIAN BASIN, SOUTH TEXAS, TEXAS
GULF COAST AND ARK-LA-TEX  REGIONS OF THE UNITED STATES.  THE COMPANY'S INTERNET
ADDRESS IS WWW.CHKENERGY.COM.