Chesapeake Energy (CHK)

PRICING OF COMMON STOCK OFFERING

OKLAHOMA CITY, OKLAHOMA, JUNE 27, 2006 – Chesapeake Energy Corporation (NYSE:CHK) today announced that it has priced a public offering of 25 million shares of its common stock at $29.05. Chesapeake also has granted the underwriters a 30-day option to purchase a maximum of 3.75 million additional shares of its common stock. Chesapeake expects the issuance and delivery of the shares to occur on June 30, 2006, subject to customary closing conditions.

Chesapeake intends to use the net proceeds from the offering, together with proceeds from concurrent public offerings of senior notes and mandatory convertible preferred stock, to fund its recently announced Barnett Shale acquisitions for $932 million, to repay outstanding indebtedness under its revolving credit facility and for general corporate purposes.

The offering is being made under a shelf registration statement that became effective on December 8, 2005.

Goldman, Sachs & Co., Banc of America Securities LLC, Bear, Stearns & Co. Inc., Lehman Brothers Inc. and Raymond James & Associates are acting as joint book-running managers for the offering.  The offering is being made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from Goldman, Sachs & Co., Attn: Prospectus Dept.,  85 Broad Street, New York, NY 10004 , Fax: 212-902-9316 or email at prospectus-ny@ny.email.gs.com; Banc of America Securities LLC, Attn: Prospectus Department, 100 West 33rd Street, New York, NY 10001, 646-733-4166; Bear, Stearns & Co. Inc., Attn: Prospectus Department, 383 Madison Avenue, New York, NY 10179, 631-274-8321; Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long

Island Avenue, Edgewood, NY 11717; Raymond James & Associates, 880 Carillon Parkway, St. Petersburg, FL 33716, 727-567-2400.  An electronic copy of the prospectus and prospectus supplement is available from the Securities and Exchange Commission's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

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 second 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 corporate and property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast, Barnett Shale, Ark-La-Tex and Appalachian Basin regions of the United States. The company’s Internet address is www.chkenergy.com.

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PRICING OF COMMON STOCK OFFERING

OKLAHOMA CITY, OKLAHOMA, DECEMBER 8, 2005 - Chesapeake Energy Corporation (NYSE:CHK) today announced that it has priced a public offering of 20.0 million shares of its common stock at $31.46 per share. All shares are being sold by Chesapeake. Chesapeake also has granted the underwriters a 30-day option to purchase up to 3.0 million additional shares of its common stock solely to cover over-allotments, if any.

Chesapeake expects the issuance and delivery of the shares to occur on December 14, 2005, subject to satisfaction of customary closing conditions. Chesapeake intends to use the net proceeds, estimated at $605 million after underwriting discount and expenses, to repay amounts outstanding under its revolving bank credit facility or for general corporate purposes.

UBS Investment Bank, Banc of America Securities LLC, Credit Suisse First Boston LLC, Lehman Brothers and Raymond James acted as joint book-running managers for the offering. Copies of the preliminary prospectus and records relating to the offering may be obtained from the offices of UBS Securities LLC, Prospectus Department, 299 Park Avenue, 29^th Floor, New York, NY 10171, 212-821-3000; Banc of America Securities LLC, Attn: Prospectus Department, 100 West 33^rd Street, New York, NY 10001, 646-733-4166; Credit Suisse First Boston LLC, One Madison Avenue, Level 1B, New York, NY 10010, 212-325-2580; Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717; Raymond James & Associates, 880 Carillon Parkway, St. Petersburg, FL 33716, 727-

567-2400. An electronic copy of the prospectus supplement and accompanying base prospectus will be available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

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 second 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 property acquisitions in the Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast, Barnett Shale, Ark-La-Tex and Appalachian Basin regions of the United States.

PRICING OF COMMON STOCK OFFERING

OKLAHOMA CITY, OKLAHOMA, SEPTEMBER 8, 2005 - Chesapeake Energy Corporation (NYSE:CHK) today announced that it has priced a public offering of 8.0 million shares of its common stock at $32.72 per share. All shares are being sold by Chesapeake. Chesapeake also has granted the underwriters a 30-day option to purchase up to 1.2 million additional shares of its common stock solely to cover over-allotments, if any. The offering is being made under the company’s existing shelf registration statement.

Chesapeake expects the issuance and delivery of the shares to occur on September 14, 2005, subject to satisfaction of customary closing conditions. Chesapeake intends to use the net proceeds of the offering, together with the proceeds from a concurrent offering of preferred stock, to repay debt under its bank credit facility and for general corporate purposes.

Lehman Brothers, Banc of America Securities LLC, Credit Suisse First Boston, Deutsche Bank Securities and Raymond James acted as joint book-running managers for the offering. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the offices of Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717; Banc of America Securities LLC, Attn: Prospectus Department, 100 West 33^rd Street, New York, NY 10001, 646-733-4166; Credit Suisse First Boston, One Madison Avenue, Level 1B, New York, NY 10010, 212-325-2580; Deutsche Bank Securities, Attn: Prospectus Department 1290 Avenue of Americas, New York, NY 10019, fax 212-468-5333; Raymond James & Associates, 880 Carillon

Parkway, St. Petersburg, FL 33716, 727-567-2400. An electronic copy of the prospectus supplement and accompanying base prospectus will be available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

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 third 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, Barnett Shale and Ark-La-Tex regions of the United States.