Filed pursuant to Rule 424 (b) (3)

Registration No. 333-116461

313,250 Shares

of

Chesapeake Energy Corporation

4.125% Cumulative Convertible Preferred Stock

(Liquidation Preference $1,000 per share)

and

Common Stock,

(Par Value $.01 per share)

PROSPECTUS SUPPLEMENT NO. 7

DATED AUGUST 23, 2005

TO PROSPECTUS DATED MAY 12, 2005

The selling securityholders table on pages 36 through 38 of the prospectus is amended by this supplement no. 7 to read as follows:

 

NAME

Number of Shares of Preferred Stock Beneficially Owned Prior to the Offering

Number of Shares of Preferred Stock Being Offered Hereby

Number of Shares of Preferred Stock to be Owned After Completion of the Offering

Number of Shares of Common Stock Beneficially Owned Prior to the Offering*

Number of Shares of Common Stock Being Offered Hereby *

Number of Shares of Common Stock to be Owned After Completion of the Offering

Alexian Brother Medical Center

350

350

0

21,019

21,019

0

Aloha Airlines Non-Pilots Pension Trust

215

215

0

12,912

12,912

0

Aloha Pilots Retirement Trust

110

110

0

6,606

6,606

0

American Medical Association

0

0

0

0

0

0

Arch Reinsurance Ltd.

350

350

0

21,019

21,019

0

Argent LowLev Convertible Arbitrage Fund LLC

780

780

0

46,843

46,843

0

Argent Classic Convertible Arbitrage Fund (Bermuda) Ltd.

3,110

3,110

0

186,773

186,773

0

Argent Classic Convertible Arbitrage Fund II, L.P.

100

100

0

6,006

6,006

0

Argent Classic Convertible Arbitrage Fund L.P.

570

570

0

34,232

34,232

0

Argent LowLev Convertible Arbitrage Fund II, L.L.C.

120

120

0

7,207

7,207

0

 

 

 

 

 

 

 

 



 

 

 

Argent LowLev Convertible Arbitrage Fund Ltd.

8,130

8,130

0

253,134

253,134

0

Arkansas PERS

1,825

1,825

0

109,601

109,601

0

Associated Electric & Gas Insurance Services Limited

120

120

0

7,207

7,207

0

AstraZeneca Holdings Pension

550

550

0

33,031

33,031

0

Aubrey K. McClendon (1)

10,000

10,000

0

19,484,088

600,555

18,883,533

Aviator Fund Management

7,250

7,250

0

435,402

435,402

0

Aviator Master Fund, Ltd.

8,250

8,250

0

495,458

495,458

0

Banc of America Securities LLC

3,000

3,000

0

1,346,867

180,167

1,166,700

Bancroft Convertible Fund, Inc. (2)

1,000

1,000

0

84,358

60,056

24,303

Barclays Global Investors Equity Hedge Fund II

78

78

0

4,684

4,684

0

Bill & Melinda Gates Foundation

405

405

0

24,322

24,322

0

Boilermakers Blacksmith Pension Trust

2,950

2,950

0

177,164

177,164

0

C & H Sugar Company Inc.

260

260

0

15,614

15,614

0

Chrysler Corporation Master Retirement Trust

0

0

0

0

0

0

CIGNA – Connecticut General Life Insurance Company

145

145

0

8,708

8,708

0

CIGNA
Connecticut Life Insurance Company of North America

95


95


0


5,705


5,705


0

CitiGroup Global Markets Ltd

21,000

21,000

0

1,261,166

1,261,166

0

Class C Trading Ltd.

370

370

0

22,221

22,221

0

Convertible Securities Fund (2)

50

50

0

3,003

3,003

7,541

Credit Suisse First Boston Europe Limited

360

360

0

21,620

21,620

0

Credit Suisse First Boston LLC

90

90

0

5,405

5,405

0

Custom Investments PCC, Ltd.

90

90

0

5,405

5,405

0

DBAG London

16,473

16,473

0

989,294

989,294

0

Delaware PERS

1,050

1,050

0

63,058

63,058

0

Delta Air Lines Master Trust - CV

0

0

0

0

0

0

Delta Airlines Master Trust

630

630

0

37,835

37,835

0

Delta Pilots Disability & Survivorship Trust - CV

0

0

0

0

0

0

Dreyfus Premier High Income Fund

1,000

1,000

0

60,056

60,056

0

Duke Endowment

650

650

0

39,036

39,036

0

Ellsworth Convertible Growth and Income Fund, Inc. (2)

1,000

1,000

0

120,812

60,056

60,756

F.M. Kirby Foundation, Inc.

0

0

0

0

0

0

FTIF Franklin Income Fund

5,000

5,000

0

300,278

300,278

0

FTVIPT Franklin Income Securities Fund

5,000

5,000

0

300,278

300,278

0

GLG Market Neutral Fund

14,500

14,500

0

870,805

870,805

0

GMAM Investment Funds Trust

840

840

0

50,447

50,447

0

Goldman Sachs & Co. (2)

3,000

3,000

0

1,716,018

180,167

1,535,851

Hawaiian Airlines Employees Pension Plan-IAM

65

65

0

3,904

3,904

0

Hawaiian Airlines Pilots Retirement Plan

200

200

0

12,011

12,011

0

Hawaiian Airlines Pilots Retirement Plan
for Salaried Employees

10

10

0

601

601

0

HFR CA Global Select Master Trust Account

150

150

0

9,008

9,008

0

Honeywell International Inc. Master Retirement Trust

405

405

0

24,322

24,322

0

Horace Mann Insurance Company

95

95

0

5,705

5,705

0

Horace Mann Life Insurance Company

145

145

0

8,708

8,708

0

Horizon Healthcare Services, Inc.

120

120

0

7,207

7,207

0

Houston Police Officers Pension System

220

220

0

13,212

13,212

0

 

 

 

 

 

 

 

 

Chesapeake Energy Corporation

4.125% Cumulative Conv. Preferred Stock

Supplement 7

2

 



 

 

 

ICI American Holdings Trust

400

400

0

24,022

24,022

0

International Truck & Engine Corporation
Non-Contributory Retirement Plan Trust

0

0

0

0

0

0

International Truck & Engine Corporation
Retiree Health Benefit Trust

0

0

0

0

0

0

International Truck & Engine Corporation Retirement Plan for Salaried Employees Trust

0

0

0

0

0

0

JMG Capital Partners, L.P. (2)

6,187

6,187

0

939,027

371,563

567,463

JMG Triton Offshore Fund, Ltd. (2)

10,313

10,313

0

1,254,863

619,352

635,510

KBC Convertible MAC28 Ltd

800

800

0

48,044

48,044

0

KBC Convertible Opportunities Fund

4,400

4,400

0

264,244

264,244

0

KBC Multi-Strategy Arbitrage Fund (2)

3,400

3,400

0

1,296,475

204,189

1,092,287

Lehman Brothers Inc. (2)

24,255

24,255

0

2,669,294

1,456,646

1,212,648

Lyxor Master Fund

740

740

0

44,441

44,441

0

Melody AIM Ltd

400

400

0

24,022

24,022

0

Microsoft Corporation

0

0

0

0

0

0

Morgan Stanley & Co. Incorporated

1,637

1,637

0

4,501,840

98,311

4,403,529

Motion Picture Industry Health Plan – Active Member Fund

0

0

0

0

0

0

Motion Picture Industry Health Plan - Retiree Member Fund

0

0

0

0

0

0

Nabors Industries, Ltd.

10,000

10,000

0

600,555

600,555

0

Nations Convertible Securities Fund (2)

10,000

10,000

0

988,665

600,555

388,110

New York City Employees’ Retirement System

405

405

0

24,322

24,322

0

New York City Police Pension Fund

120

120

0

7,207

7,207

0

Nuveen Preferred & Convertible Fund JQC

8,955

8,955

0

537,797

537,797

0

Nuveen Preferred & Convertible Income Fund JPC

6,725

6,725

0

403,873

403,873

0

Oak Hill Contingent Capital Fund Ltd.

2,000

2,000

0

120,111

120,111

0

OCLC Online Computer Library Center

55

55

0

3,303

3,303

0

OCM Convertible Trust

0

0

0

0

0

0

OCM Global Convertible Securities Fund

0

0

0

0

0

0

Oppenheimer Convertible Securities Fund

5,000

5,000

0

300,278

300,278

0

Partner Reinsurance Company of the U.S.

0

0

0

0

0

0

Pension Reserves Investment Trust

500

500

0

30,028

30,028

0

Prudential Insurance Co of America

100

100

0

6,006

6,006

0

Qwest Occupational Health Trust

0

0

0

0

0

0

RBC Alternative Assets - Convertible Arbitrage (2)

300

300

0

30,169

18,017

12,152

Relay 3 Asset Holding Co. Limited

39

39

0

2,342

2,342

0

Scorpion Offshore Investment Fund, Ltd.

338

338

0

20,299

20,299

0

Silver Convertible Arbitrage Fund, LDC

360

360

0

21,620

21,620

0

SP Holdings Ltd.

84

84

0

5,045

5,045

0

Standard Global Equity Partners II, L.P.

57

57

0

3,423

3,423

0

Standard Global Equity Partners, L.P.

1,261

1,261

0

75,730

75,730

0

Standard Global Equity Partners, SA, L.P.

601

601

0

36,093

36,093

0

Standard Pacific Capital Offshore Fund, Ltd.

4,915

4,915

0

295,173

295,173

0

 

 

 

 

 

 

 

 

Chesapeake Energy Corporation

4.125% Cumulative Conv. Preferred Stock

Supplement 7

3

 



 

 

 

Standard Pacific MAC 16 Ltd.

250

250

0

15,014

15,014

0

State Employees’ Retirement Fund of the
State of Delaware

0

0

0

0

0

0

State of Oregon/Equity

5,515

5,515

0

331,206

331,206

0

State of Oregon/SAIF Corporation

5,215

5,215

0

313,189

313,189

0

Syngenta AG

300

300

0

18,017

18,017

0

TCW Group, Inc.

9,680

9,680

0

581,337

581,337

0

Teachers’ Retirement System For the City of New York

400

400

0

24,022

24,022

0

Texas County District & Retirement System

1,550

1,550

0

93,086

93,086

0

The Northwestern Mutual Life Insurance Company
    General Account (2)

8,000

8,000

0

1,222,389

480,444

741,945

The Northwestern Mutual Life Insurance Company
    General Account

500

500

0

30,028

30,028

0

The Public Employees System of Ohio

400

400

0

24,022

24,022

0

The St. Paul Travelers Companies, Inc. - Commercial Lines

0

0

0

0

0

0

The St. Paul Travelers Companies, Inc. - Personal Lines

0

0

0

0

0

0

Tom L. Ward (3)

10,000

10,000

0

20,469,337

600,555

19,868,782

UBS AG London

13,000

13,000

0

780,722

780,722

0

Univest Multi-Strategy - Convertible Arbitrage (2)

225

225

0

23,233

13,512

9,721

UnumProvident Corporation

0

0

0

0

0

0

US Bank FBO Benedictine Health Systems

360

360

0

21,620

21,620

0

Value Line Convertible Fund, Inc.

250

250

0

15,014

15,014

0

Vanguard Convertible Securities Fund, Inc.

0

0

0

0

0

0

WPG Convertible Arbitrage Overseas Master Fund (2)

475

475

0

116,015

28,526

87,489

Xavex Convertible Arbitrage 10 Fund

220

220

0

13,212

13,212

0

Xavex Convertible Arbitrage 2 Fund

230

230

0

13,813

13,813

0

 

 

 

 

 

 

 

 

* Includes common stock issuable upon conversion of Chesapeake’s 4.125% Cumulative Convertible Preferred Stock at conversion rate of 60.0555 shares of common stock per share.

(1)    Mr. McClendon is our Chief Executive Officer. The number of shares of Common Stock indicated to be beneficially owned by him prior to and after completion of the offering includes 3,775,130 shares underlying stock options exercisable within 60 days of the date hereof and 304,810 shares underlying convertible securities. The number of shares of Common Stock indicated to be beneficially owned by him after completion of the offering represents approximately 5.77% of the total outstanding shares of common stock as of July 29, 2005.

(2)    The number of shares of Common Stock indicated to be beneficially owned after completion of the offering includes shares issuable within 60 days of the date hereof upon conversion of convertible securities.

(3)    Mr. Ward is our Chief Operating Officer. The number of shares of Common Stock indicated to be beneficially owned by him prior to and after completion of the offering includes 6,700,748 shares underlying stock options exercisable within 60 days of the date hereof and 304,810 shares underlying convertible securities. The number of shares of Common Stock indicated to be beneficially owned by him after completion of the offering represents approximately 6.02% of the total outstanding shares of common stock as of July 29, 2005.

 

 

Chesapeake Energy Corporation

4.125% Cumulative Conv. Preferred Stock

Supplement 7

4