UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, D.C. 20549

                                                                 
                                    FORM 12b-25              SEC File Number
                                                                  1-13726

                           NOTIFICATION OF LATE FILING

(Check one):  Form 10-K   Form 20-F  X-Form 11-K   Form 10-Q   Form N-SAR

For Period Ended:  December 31, 1996

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

PART I - REGISTRANT INFORMATION   

CHESAPEAKE ENERGY CORPORATION SAVINGS AND INCENTIVE STOCK BONUS PLAN
            (Exact name of registrant as specified in its charter)

                         6100 North Western Avenue
                       Oklahoma City, Oklahoma   73118
                   (Address of principal executive office)         


PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate) X

[x]  (a) The reasons described in reasonable detail in Part III of this form 
         could not be eliminated without unreasonable effort or expense.

[x]  (b) The subject annual report will be filed on or before the fifteenth 
         calendar day following the prescribed due date; and

[x]  (c) The accountant's statement or other exhibit required by Rule 12b-
         25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why the Form 11-K could not be
filed within the prescribed time period.

Additional information must be obtained in order for the accountants to
complete their report and file a complete and accurate Form 11-K.

PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this     
notification

    Janice Dobbs                     (405)       848-8000, ext 212
    (Name)                         (Area code)   (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) or the  
Securities Exchange Act of 1934 been filed?  If answer is no, identify     
report(s).    X Yes    No

(3) Is it anticipated that any significant change in results of operations     
from the corresponding period for the last fiscal year will be reflected     
by the earnings statements to be included in the subject report or portion     
thereof?    Yes     X No

If so, attach an explanation of the anticipated change, both narratively     
and quantitatively, and, if appropriate, state the reasons why a     
reasonable estimate of the results cannot be made. 

EXHIBITS

99         Independent Auditors' Letter accompanying Form 12b-25

CHESAPEAKE ENERGY CORPORATION SAVINGS AND INCENTIVE STOCK BONUS PLAN
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

Date:  June 30, 1997               BY  JANICE DOBBS, 
                                       Janice Dobbs, Trustee



                            EXHIBIT INDEX



Exhibit No.    Description                     Method of Filing
- -----------    -----------                     ----------------
                                         
99             Independent Auditors' Letter    Filed herewith electronically

COOPERS & LYBRAND
15 North Robinson, Suite 400
Oklahoma City, Oklahoma  73102
Telephone (405) 236-5800
Facsimile (405) 232-5238


June 27, 1997





Ms. Janice Dobbs
Chesapeake Energy Corporation
6104 N. Western
Oklahoma City, OK  73118

Dear Ms. Dobbs:

You have furnished us with a copy of Your "Notification of Late Filing" on
Form 12b-25 dated June 27, 1997.

We are in agreement with the comments under Part III of the Form with
respect to the reasons why we are unable to furnish our report on the 
financial statements of the Chesapeake Energy Savings and Incentive Stock
Bonus Plan for inclusion in the Form 11-K for the year ended December 31,
1996.

Yours very truly,

COOPERS & LYBRAND L.L.P.
Coopers & Lybrand L.L.P.