EXHIBIT 99.1


                   CHESAPEAKE ENERGY CORPORATION ANNOUNCES THE
       ELECTION OF SENATOR DON NICKLES TO CHESAPEAKE'S BOARD OF DIRECTORS

OKLAHOMA CITY, OKLAHOMA,  JANUARY 3, 2005 - Chesapeake Energy Corporation (NYSE:
CHK) today announced the election of Senator Don Nickles to the Chesapeake Board
of  Directors  for a term  expiring  in  2005,  after  which he will  stand  for
re-election by Chesapeake's  shareholders.  Senator Nickles (R., Okla.),  56, is
retiring from the U.S.  Senate  tomorrow after a  distinguished  24-year career.
During  his  four  terms in the  Senate,  Senator  Nickles  served  in  numerous
leadership  positions,   including  Chairman  of  the  Senate  Budget  Committee
(2003-04)  and  Assistant   Republican  Leader  (1996-2002).   Important  energy
legislative  accomplishments  during his service in the Senate include repeal of
the Windfall Profits Tax (1988),  repeal of the Fuel Use Policy Act (1987),  the
deregulation  of natural gas prices (1989) and numerous other  contributions  to
the   nation's   energy   policies.   In   addition,   other  major   pieces  of
Nickles-sponsored legislation include: the National Organ Transplant Act (1984),
repeal of the 55 MPH federal speed limit (1995),  The American Family Tax Relief
Act (1995),  The Defense of Marriage Act (1996),  The  Congressional  Review Act
(1996),  The International  Religious Freedom Act (1998),  the Child Citizenship
Act (2000) and the Jobs and Growth Tax Relief Act (2003).

Senator  Nickles was raised in Ponca City,  Oklahoma and graduated from Oklahoma
State University in 1971. Upon graduation he became  Vice-President  and General
Manager of the Nickles Machine  Corporation,  a family-owned small business that
provided  products and  services to the energy  industry.  Senator  Nickles also
served in the National  Guard from 1970-76.  In 1980, he was elected to the U.S.
Senate  at the age of 31,  becoming  the  youngest  member  of the U.S.  Senate.
Senator Nickles recently formed The Nickles Group, a Washington-based consulting
and business venture firm.

Senator  Nickles'  election  increases the size of  Chesapeake's  Board to eight
members.  Management is  represented by Aubrey K. McClendon and Tom L. Ward, the
company's  co-founders  and  largest  individual  shareholders.  The other Board
members  are Frank  Keating  of  Washington,  D.C.;  Breene  M. Kerr of  Easton,
Maryland;  Charles  T.  Maxwell  of  Bronxville,  New York;  Shannon  T. Self of
Oklahoma City; and Frederick B. Whittemore of New York City.

                               MANAGEMENT COMMENT

Aubrey K. McClendon,  Chairman and Chief Executive Officer of Chesapeake said of
Senator  Nickles'  election,   "We  are  extremely  pleased  to  have  Don  join
Chesapeake's  Board.  We have known Don for many years and watched with pride as
he rose from the youngest member of the U.S. Senate to one of the country's most
influential  leaders.  Senator  Nickles is a man of exceptional  accomplishment,
leadership  skills and personal  character.  From his family  background  in the
industry and his four terms as a leading U.S.  Senator,  Don understands  energy
issues and the industry's  importance to the U.S. economy.  In a time of growing
political  debate about the  country's  energy  policies,  we will  particularly
appreciate his in-depth knowledge of energy public policy issues."


CHESAPEAKE  ENERGY  CORPORATION  IS THE SIXTH  LARGEST  INDEPENDENT  PRODUCER 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.