Chesapeake Energy Corporation Announces Change in Scheduling of Second Quarter 2004 Earnings Release and Conference Call

Chesapeake Energy Corporation today announced that it has decided to accelerate the release of its second quarter earnings release from the previously announced date of Monday, August 2 to after the close of trading on the New York Stock Exchange on Monday, July 26, 2004.

The timing of the conference call to discuss those results has been changed to 9:00 a.m. EDT, Tuesday, July 27, 2004. The telephone number to access the conference call remains 913.981.5572. We encourage those who would like to participate in the call to place your calls between 8:50 and 9:00 am EDT.

For those unable to participate in the conference call, a replay will be available for audio playback at 12:00 pm EDT on Tuesday, July 27, 2004 and will run through midnight Monday, August 9, 2004. The number for the conference call replay is 719.457.0820 and the passcode for the replay is 151543.

The conference call will also be simulcast live on the Internet and can be accessed by going directly to the Chesapeake website at 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 U.S. natural gas producers. 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 .

SOURCE: Chesapeake Energy Corporation

CONTACT: Marc Rowland, Executive Vice President and Chief Financial
Officer, +1-405-879-9232, or Tom Price, Jr., Senior Vice President - Investor
Relations, +1-405-879-9257, both of Chesapeake Energy Corporation