<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM (A)
BALANCE SHEET AS OF DECEMBER 31, 1996 AND STATEMENT OF INCOME FOR SIX
MONTHS ENDED DECEMBER 31, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH (B) FORM 10-Q FOR THE PERIOD DECEMBER 31, 1996.
</LEGEND>
<CIK> 0000895126
<NAME> CHESAPEAKE ENERGY CORPORATION
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-END>                               DEC-31-1996
<CASH>                                         140,739
<SECURITIES>                                    35,317
<RECEIVABLES>                                   66,370
<ALLOWANCES>                                       198
<INVENTORY>                                      7,071
<CURRENT-ASSETS>                               250,273
<PP&E>                                         731,392
<DEPRECIATION>                                 132,843
<TOTAL-ASSETS>                                 860,597
<CURRENT-LIABILITIES>                          127,092
<BONDS>                                        220,149
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           693
<OTHER-SE>                                     483,369
<TOTAL-LIABILITY-AND-EQUITY>                   860,597
<SALES>                                        120,186
<TOTAL-REVENUES>                               122,707
<CGS>                                           77,240
<TOTAL-COSTS>                                   83,456
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,216
<INCOME-PRETAX>                                 83,456
<INCOME-TAX>                                    14,325
<INCOME-CONTINUING>                             24,921
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (6,443)
<CHANGES>                                            0
<NET-INCOME>                                    18,478
<EPS-PRIMARY>                                      .28
<EPS-DILUTED>                                      .28