Chesapeake Energy (CHK)

Item 5.04 Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans.

Effective January 1, 2007 the Chesapeake Energy Corporation Savings and Incentive Stock Bonus Plan and the Nomac Drilling 401(k) Plan will be transferring recordkeeping and trustee services to The Principal. The Chesapeake Energy and Nomac Drilling plans will also be combined at that time and the new plan name for all participants will be the Chesapeake Energy Corporation Savings and Incentive Stock Bonus Plan.

As a result of these changes, participants in the above referenced plans will temporarily be unable to direct or diversify investments in their individual accounts, obtain loans from the plans, or obtain distributions from the plans. This period, during which participants will be unable to exercise these rights otherwise available under the plans, is called a "blackout period." Chesapeake’s common stock, par value $0.01 per share, is subject to the blackout period.

The blackout period for the plans is expected to begin on December 21, 2006 at 3:00 p.m. (CST) and end the week of January 15, 2007. During these weeks, you can determine whether the blackout period has started or ended, or inquire about the blackout period, by calling The Principal at 1-800-547-7754 or by accessing The Principal website at www.principal.com/ChesapeakeEnergy.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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Item 5.04 Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans.

Effective October 3, 2005 the Chesapeake Energy Corporation Savings and Incentive Stock Bonus Plan and the Nomac Drilling 401(k) Plan will be transferring recordkeeping and trustee services to Union Bank of California-SELECTBENEFIT.

As a result of these changes, participants in the above referenced plans will temporarily be unable to direct or diversify investments in their individual accounts, obtain loans from the plans, or obtain distributions from the plans. This period, during which participants will be unable to exercise these rights otherwise available under the plans, is called a "blackout period." Chesapeake’s common stock, par value $0.01 per share, is subject to the blackout period.

The blackout period for the plans is expected to begin on September 23, 2005 at 3:00 p.m. (CST) and end the week of October 16, 2005. During these weeks, you can determine whether the blackout period has started or ended, or inquire about the blackout period, by calling SELECTBENEFIT at (800) 678-7526 or by accessing the SELECTBENEFIT website at www.selectbenefit.com.

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