EXHIBIT 99.1
                                                                   ------------


                 CHESAPEAKE ENERGY CORPORATION ANNOUNCES PRICING
                 OF $600 MILLION OF 6.625% SENIOR NOTES DUE 2016

OKLAHOMA  CITY,  OKLAHOMA,  APRIL  13,  2005  -  Chesapeake  Energy  Corporation
(NYSE:CHK) today announced that it has priced a private offering of $600 million
of senior  notes due January  15,  2016,  which will carry an  interest  rate of
6.625%.  The  senior  notes  were  priced at  99.069%  of par to yield  6.75% to
maturity.  The senior notes being sold by  Chesapeake  have not been  registered
under the  Securities  Act of 1933 and may not be  offered or sold in the United
States  absent  registration  or  an  applicable   exemption  from  registration
requirements. The senior notes will be eligible for trading under Rule 144A.

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.

This announcement  shall not constitute an offer to sell or a solicitation of an
offer to buy.  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.