EXHIBIT 99.1
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                     CHESAPEAKE ENERGY CORPORATION ANNOUNCES
                        PRIVATE OFFERING OF SENIOR NOTES

OKLAHOMA  CITY,  OKLAHOMA,  APRIL  12,  2005  -  Chesapeake  Energy  Corporation
(NYSE:CHK) today announced that it is commencing a private placement offering to
eligible purchasers of $600 million of a new issue of senior notes due 2016. The
notes are  expected  to be  eligible  for resale  under Rule 144A.  The  private
offering,  which is subject to market and other conditions,  will be made within
the United States only to qualified institutional buyers, and outside the United
States only to non-U.S.  investors  under  regulation S of the Securities Act of
1933.

Chesapeake  intends to use the net proceeds from the offering to partially  fund
approximately  $686 million of recently  announced  acquisitions  of oil and gas
properties, or in the event the acquisitions are not consummated,  to repay debt
under its bank credit facility.

The new  notes  have not been  registered  under the  Securities  Act of 1933 or
applicable  state  securities laws, and may not be offered or sold in the United
States absent  registration  or an applicable  exemption  from the  registration
requirements of the Securities Act and applicable state laws. This  announcement
shall not constitute an offer to sell or a  solicitation  of an offer to buy the
new notes.



THIS DOCUMENT CONTAINS FORWARD-LOOKING  STATEMENTS WITHIN THE MEANING OF SECTION
27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT
OF 1934.  FORWARD-LOOKING  STATEMENTS  INCLUDE  ESTIMATES  AND GIVE OUR  CURRENT
EXPECTATIONS   OR   FORECASTS  OF  FUTURE   EVENTS.   ALTHOUGH  WE  BELIEVE  OUR
FORWARD-LOOKING  STATEMENTS ARE  REASONABLE,  THEY CAN BE AFFECTED BY INACCURATE
ASSUMPTIONS OR BY KNOWN OR UNKNOWN RISKS AND UNCERTAINTIES.

CHESAPEAKE  ENERGY  CORPORATION  IS THE FOURTH 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.