Filed pursuant to Rule 424 (b) (3)

 

Registration No. 333-132261

$690,000,000

of

Chesapeake Energy Corporation

2.75% Contingent Convertible Senior Notes due 2035

(Liquidation Preference $100 per share)

and

Common Stock

(Par Value $.01 per share)

 

PROSPECTUS SUPPLEMENT NO. 4

DATED November 27, 2006

TO PROSPECTUS DATED June 22, 2006

 

The selling securityholders table on pages 61 through 63 of the prospectus is amended by this supplement no. 4 to read as follows.

 

SECURITYHOLDER

 

Principal Amount of Notes Beneficially Owned Prior to the Offering

 

Principal Amount of Notes Being Offered Hereby

 

Principal Amount of Notes to be Owned After Completion of the Offering

 

Number of Shares of Common Stock Beneficially Owned Prior to the Offering (1)

 

Number of Shares of Common Stock Being Offered Hereby (1)

 

Number of Shares of Common Stock to be Owned After Completion of the Offering (1)

Advent Convertible Master Cayman

 

4,020,000

 

4,020,000

 

0

 

102,892

 

102,892

 

0

Allstate Insurance Company

 

1,000,000

 

1,000,000

 

0

 

327,990

 

25,595

 

302,395

Aloha Airlines Non-Pilots Pension Trust

 

10,000

 

10,000

 

0

 

256

 

256

 

0

Alpine Associates

 

10,026,000

 

10,026,000

 

0

 

256,616

 

256,616

 

0

Alpine Partners, L.P.

 

1,364,000

 

1,364,000

 

0

 

34,912

 

34,912

 

0

American Investors Life Insurance Company

 

1,500,000

 

1,500,000

 

0

 

38,393

 

38,393

 

0

Argent Classic Convertible Arbitrage Fund (Bermuda) Ltd.

 

880,000

 

880,000

 

0

 

22,524

 

22,524

 

0

Argent LowLev Convertible Arbitrage Fund II, LLC

 

150,000

 

150,000

 

0

 

3,839

 

3,839

 

0

Argent LowLev Convertible Arbitrage Fund Ltd.

 

5,120,000

 

5,120,000

 

0

 

131,047

 

131,047

 

0

Argent LowLev Convertible Arbitrage Fund, LLC

 

880,000

 

880,000

 

0

 

22,524

 

22,524

 

0

Aristeia International Limited

 

47,300,000

 

47,300,000

 

0

 

1,210,648

 

1,210,648

 

0

Aristeia Partners LP

 

7,700,000

 

7,700,000

 

0

 

197,082

 

197,082

 

0

Arkansas PERS

 

315,000

 

315,000

 

0

 

8,062

 

8,062

 

0

Arpeggio Fund

 

2,300,000

 

2,300,000

 

0

 

58,869

 

58,869

 

0

AstraZenca Holdings Pension

 

40,000

 

40,000

 

0

 

1,024

 

1,024

 

0

Bank of America Pension Plan

 

2,500,000

 

2,500,000

 

0

 

63,988

 

63,988

 

0

Barnet Partners, Ltd.

 

12,200,000

 

12,200,000

 

0

 

312,260

 

312,260

 

0

BNP Paribas Arbitrage

 

25,000,000

 

25,000,000

 

0

 

639,878

 

639,878

 

0

Boilermakers Blacksmith Pension Trust

 

425,000

 

425,000

 

0

 

10,878

 

10,878

 

0

 

Chesapeake Energy Corporation

2.75% Contingent Convertible Senior Notes

Supplement No. 4 (165167 BV8)

1

 

Canadian Imperial Holdings, Inc.

 

10,000,000

 

10,000,000

 

0

 

255,951

 

255,951

 

0

CBARB, a segregated account of Geode Capital Master Fund Ltd., an open-ended exempted mutual fund company registered as a segregated accounts company under the laws of Bermuda

 

2,000,000

 

2,000,000

 

0

 

51,190

 

51,190

 

0

Cheyne Fund LP

 

8,006,000

 

8,006,000

 

0

 

211,723

 

204,914

 

6,808

Cheyne Leverage Fund LP

 

6,725,000

 

6,725,000

 

0

 

177,784

 

172,127

 

5,657

CIP Limited Duration Co.

 

399,000

 

399,000

 

0

 

10,545

 

10,212

 

333

Citadel Equity Fund Ltd.

 

82,500,000

 

82,500,000

 

0

 

2,111,596

 

2,111,596

 

0

Class C Trading Company LTD

 

100,000

 

100,000

 

0

 

2,560

 

2,560

 

0

CNH CA Master Account, L.P.

 

42,500,000

 

42,500,000

 

0

 

1,087,792

 

1,087,792

 

0

Columbia Convertible Securities Fund

 

3,231,000

 

3,231,000

 

0

 

526,263

 

82,698

 

443,566

Continental Assurance Company on behalf of its Separate Account E

 

2,300,000

 

2,300,000

 

0

 

58,869

 

58,869

 

0

Convertible Arbitrage Fund of a Series of Underlying Fund Trust

 

750,000

 

750,000

 

0

 

33,896

 

19,196

 

14,700

Convertible Securities Fund

 

19,000

 

19,000

 

0

 

1,618

 

486

 

1,132

CSV

 

1,500,000

 

1,500,000

 

0

 

38,393

 

38,393

 

0

Daimler Chrysler Corp Emp. #1 Pension Plan, dtd 4/1/89

 

1,215,000

 

1,215,000

 

0

 

31,098

 

31,098

 

0

DBAG London

 

75,173,500

 

75,173,500

 

0

 

1,924,073

 

1,924,073

 

0

Delaware PERS

 

185,000

 

185,000

 

0

 

4,735

 

4,735

 

0

Delta Airlines Master Trust

 

90,000

 

90,000

 

0

 

2,304

 

2,304

 

0

Deutsche Bank Securities Inc.

 

7,303,000

 

7,303,000

 

0

 

186,921

 

186,921

 

0

dit-UZN-USA

 

170,000

 

170,000

 

0

 

4,351

 

4,351

 

0

DKR Soundshore Oasis Holding Fund Ltd.

 

1,750,000

 

1,750,000

 

0

 

44,791

 

44,791

 

0

Empyrean Capital Fund, LP

 

1,620,000

 

1,620,000

 

0

 

41,464

 

41,464

 

0

Empyrean Capital Overseas Benefit Plan Fund, Ltd

 

341,000

 

341,000

 

0

 

8,728

 

8,728

 

0

Empyrean Capital Overseas Fund, Ltd

 

2,577,000

 

2,577,000

 

0

 

65,959

 

65,959

 

0

FOC SICAV Convert Global (EVR)

 

1,115,000

 

1,115,000

 

0

 

28,539

 

28,539

 

0

Forest Fulcrum Fund L.P.

 

939,000

 

939,000

 

0

 

108,852

 

24,034

 

84,818

Forest Global Convertible Fund, Ltd., Class A-5

 

1,361,000

 

1,361,000

 

0

 

158,658

 

34,835

 

123,823

Forest Multi-Strategy Master Fund SPC,
on behalf of its Multi Strategy Segregated Portfolio

 

397,000

 

397,000

 

0

 

147,024

 

10,161

 

136,863

FPL Group Employees Pension Plan

 

245,000

 

245,000

 

0

 

6,271

 

6,271

 

0

Franklin and Marshall College

 

30,000

 

30,000

 

0

 

768

 

768

 

0

FrontPoint Convertible Arbitrage Fund, L.P.

 

6,000,000

 

6,000,000

 

0

 

153,571

 

153,571

 

0

GLG Global Convertible Fund

 

4,900,000

 

4,900,000

 

0

 

125,416

 

125,416

 

0

GLG Investments PLC-Sub Fund: GLG Global Convertible UCITS Fund

 

9,100,000

 

9,100,000

 

0

 

232,915

 

232,915

 

0

Global High Yield Fund

 

75,000

 

75,000

 

0

 

1,920

 

1,920

 

0

Goldman Sachs & Co.

 

23,500,000

 

23,500,000

 

0

 

1,810,215

 

601,485

 

1,208,730

Good Steward Trading Co, SPC Class F

 

118,000

 

118,000

 

0

 

3,020

 

3,020

 

0

Grace Convertible Arbitrage Fund, Ltd.

 

2,000,000

 

2,000,000

 

0

 

127,975

 

51,190

 

76,785

Greywolf Capital Overseas Fund

 

15,525,000

 

15,525,000

 

0

 

397,364

 

397,364

 

0

Greywolf Capital Partners II LP

 

6,975,000

 

6,975,000

 

0

 

178,526

 

178,526

 

0

Hallmark Convertible Securities Fund

 

20,000

 

20,000

 

0

 

512

 

512

 

0

Hartford Accident & Indemnity Company

 

930,000

 

930,000

 

0

 

23,803

 

23,803

 

0

Hartford Fire Insurance Company

 

744,000

 

744,000

 

0

 

19,043

 

19,043

 

0

Hartford Institutional Trust High Quality High Yield Series

 

35,000

 

35,000

 

0

 

896

 

896

 

0

Hartford Life Insurance Company

 

30,000

 

30,000

 

0

 

768

 

768

 

0

Hartford Life Insurance Company Separate Account B-Core Plus Fixed Income

 

372,000

 

372,000

 

0

 

9,521

 

9,521

 

0

Hartford Life Insurance Company Separate Account BF

 

1,010,000

 

1,010,000

 

0

 

25,851

 

25,851

 

0

Hartford Total Return Bond HLS Fund

 

6,206,000

 

6,206,000

 

0

 

158,843

 

158,843

 

0

HFR CA Global Opportunity Master Trust

 

314,000

 

314,000

 

0

 

8,037

 

8,037

 

0

HFR CA Global Select Master Trust Account

 

960,000

 

960,000

 

0

 

24,571

 

24,571

 

0

HFR CA Select Fund

 

700,000

 

700,000

 

0

 

17,917

 

17,917

 

0

 

 

Chesapeake Energy Corporation

2.75% Contingent Convertible Senior Notes

Supplement No. 4 (165167 BV8)

2

 

HFR RVA Select Performance Master Trust

 

135,000

 

135,000

 

0

 

53,219

 

3,455

 

49,763

Highbridge International LLC

 

35,000,000

 

35,000,000

 

0

 

895,829

 

895,829

 

0

HSBC Investments (USA) Inc. a/c HSBC Multi
Strategy Arbitrage Fund

 

1,000,000

 

1,000,000

 

0

 

25,595

 

25,595

 

0

ICI American Holdings Trust

 

70,000

 

70,000

 

0

 

1,792

 

1,792

 

0

IMF Converts

 

3,200,000

 

3,200,000

 

0

 

81,904

 

81,904

 

0

Inflective Convertible Opportunity Fund I, L.P.

 

5,000,000

 

5,000,000

 

0

 

127,976

 

127,976

 

0

Inflective Convertible Opportunity Fund I, LTD

 

2,000,000

 

2,000,000

 

0

 

51,190

 

51,190

 

0

Institutional Benchmark Series (Master Feeder) Ltd.

 

1,000,000

 

1,000,000

 

0

 

25,595

 

25,595

 

0

Jefferies & Co. Inc.

 

1,200,000

 

1,200,000

 

0

 

69,525

 

30,714

 

38,811

JMG Capital Partners, LP

 

21,500,000

 

21,500,000

 

0

 

550,295

 

550,295

 

0

JMG Triton Offshore Fund, Ltd.

 

23,000,000

 

23,000,000

 

0

 

588,687

 

588,687

 

0

JP Morgan Securities Inc.

 

6,000,000

 

6,000,000

 

0

 

664,510

 

153,571

 

510,939

KBC Financial Products (Cayman Islands) Ltd.

 

3,000,000

 

3,000,000

 

0

 

76,785

 

76,785

 

0

KBC Financial Products USA, Inc.

 

5,000,000

 

5,000,000

 

0

 

127,976

 

127,976

 

0

LDG Limited

 

171,000

 

171,000

 

0

 

4,377

 

4,377

 

0

Lehman Brothers, Inc.

 

1,500,000

 

1,500,000

 

0

 

2,075,419

 

38,393

 

2,037,026

Lydian Global Opportunities Master Fund Limited

 

15,000,000

 

15,000,000

 

0

 

383,927

 

383,927

 

0

Lydian Overseas Partners Master Fund L.P. I

 

32,500,000

 

32,500,000

 

0

 

831,841

 

831,841

 

0

Lyxor Convertible Arbitrage Fund

 

111,000

 

111,000

 

0

 

2,841

 

2,841

 

0

Lyxor Master Fund Ref: Argent /LowLev CB c/o Argent

 

2,920,000

 

2,920,000

 

0

 

74,738

 

74,738

 

0

Lyxor/Forest Fund Limited

 

2,909,000

 

2,909,000

 

0

 

313,955

 

74,456

 

239,499

Lyxor/Inflective Convertible Opportunity Fund

 

2,000,000

 

2,000,000

 

0

 

51,190

 

51,190

 

0

MSS Convertible Arbitrage Fund I
c/o TQA Investors

 

12,000

 

12,000

 

0

 

10,371

 

307

 

10,064

MSS Convertible Arbitrage l

 

59,000

 

59,000

 

0

 

1,510

 

1,510

 

52,900

Nomura Securities International, Inc.

 

10,000,000

 

10,000,000

 

0

 

308,851

 

255,951

 

52,900

Nuveen Preferred & Convertible Fund JQC

 

1,600,000

 

1,600,000

 

0

 

40,952

 

40,952

 

0

Nuveen Preferred & Convertible Income Fund JPC

 

1,175,000

 

1,175,000

 

0

 

30,074

 

30,074

 

0

OCLC Online Computer Library Center, Inc.

 

10,000

 

10,000

 

0

 

256

 

256

 

0

OZ Master Fund, Ltd.

 

41,500,000

 

41,500,000

 

0

 

1,062,197

 

1,062,197

 

0

OZ Special Funding, L.P.

 

29,000,000

 

29,000,000

 

0

 

742,258

 

742,258

 

0

Peoples Benefit Life Insurance Company Teamsters

 

5,500,000

 

5,500,000

 

0

 

140,773

 

140,773

 

0

PIMCO Bermuda U.S. High Yield Fund (M)

 

800,000

 

800,000

 

0

 

20,476

 

20,476

 

0

PIMCO Bermuda U.S. High Yield Fund II (M)

 

225,000

 

225,000

 

0

 

5,759

 

5,759

 

0

PIMCO Cayman Global High Income (Yen)

 

100,000

 

100,000

 

0

 

2,560

 

2,560

 

0

PIMCO Cayman Global High Income Fund

 

1,580,000

 

1,580,000

 

0

 

40,440

 

40,440

 

0

PIMCO High Yield Fund

 

2,725,000

 

2,725,000

 

0

 

69,747

 

69,747

 

0

Prudential Insurance Co. of America

 

20,000

 

20,000

 

0

 

512

 

512

 

0

Ramius Fund II, Ltd.

 

110,000

 

110,000

 

0

 

2,815

 

2,815

 

0

Ramius Master Fund, Ltd.

 

1,890,000

 

1,890,000

 

0

 

48,375

 

48,375

 

0

Rampart Convertible Arbitrage Investors, L.L.C.

 

3,000,000

 

3,000,000

 

0

 

76,785

 

76,785

 

0

Rampart Enhanced Convertible L.L.C.

 

265,000

 

265,000

 

0

 

6,783

 

6,783

 

0

RCG Halifax Fund, Ltd.

 

250,000

 

250,000

 

0

 

6,399

 

6,399

 

0

RCG Latitude Master Fund, Ltd.

 

4,500,000

 

4,500,000

 

0

 

115,178

 

115,178

 

0

Recon Arbitrage Master Fund Ltd.

 

2,000,000

 

2,000,000

 

0

 

51,190

 

51,190

 

0

Redbourn Partners Ltd

 

8,000,000

 

8,000,000

 

0

 

204,761

 

204,761

 

0

Rhapsody Fund

 

3,500,000

 

3,500,000

 

0

 

89,583

 

89,583

 

0

San Diego County Employees Retirement Association

 

2,500,000

 

2,500,000

 

0

 

63,988

 

63,988

 

0

Sandelman Partners Multi-Strategy Master Fund, Ltd.

 

11,000,000

 

11,000,000

 

0

 

515,896

 

281,546

 

234,350

Saranac Arbitrage LTD

 

305,000

 

305,000

 

0

 

7,807

 

7,807

 

0

Saranac Capital Management LP on behalf of
Citigroup Alternative Investments Diversified Arbitrage Strategies Fund Ltd.

 

742,000

 

742,000

 

0

 

18,992

 

18,992

 

0

Saranac Capital Management LP on behalf of
Citigroup Alternative Investments QIP Multi-Strategy Arbitrage Portfolio

 

1,469,000

 

1,469,000

 

0

 

37,599

 

37,599

 

0

 

 

3

 

Saranac Capital Management LP on behalf of
Saranac Arbitrage LTD

 

305,000

 

305,000

 

0

 

7,807

 

7,807

 

0

Saranac Capital Management LP on behalf of
Saranac Erisa Arbitrage LTD

 

484,000

 

484,000

 

0

 

12,388

 

12,388

 

0

Satellite Convertible Arbitrage Master Fund LLC

 

5,000,000

 

5,000,000

 

0

 

127,976

 

127,976

 

0

Siemens Convertibles Global Markets

 

3,500,000

 

3,500,000

 

0

 

89,583

 

89,583

 

0

Silver Convertible Arbitrage Fund, LDC

 

660,000

 

660,000

 

0

 

16,893

 

16,893

 

0

K 4 HYB4

 

200,000

 

200,000

 

0

 

5,119

 

5,119

 

0

SpecialForeningen NyKredit Global High Yield

 

625,000

 

625,000

 

0

 

15,997

 

15,997

 

0

Sphinx Convertible Arbitrage SPC

 

1,218,000

 

1,218,000

 

0

 

116,714

 

31,175

 

85,539

Sphinx Fund c/o TQA Investors

 

1,123,000

 

1,123,000

 

0

 

40,952

 

28,743

 

12,209

State of Oregon/Equity

 

905,000

 

905,000

 

0

 

23,164

 

23,164

 

0

Steelhead Pathfinder Fund LP

 

600,000

 

600,000

 

0

 

15,357

 

15,357

 

0

Syngenta AG

 

50,000

 

50,000

 

0

 

1,280

 

1,280

 

0

The Hartford High Yield Fund

 

596,000

 

596,000

 

0

 

15,255

 

15,255

 

0

The Hartford High Yield HLS Fund

 

1,339,000

 

1,339,000

 

0

 

34,272

 

34,272

 

0

The Hartford Income Fund

 

43,000

 

43,000

 

0

 

1,101

 

1,101

 

0

The Hartford Total Return Bond Fund

 

1,146,000

 

1,146,000

 

0

 

29,332

 

29,332

 

0

TQA Master Fund

 

6,985,000

 

6,985,000

 

0

 

269,490

 

178,782

 

90,709

TQA Master Plus Fund

 

2,864,000

 

2,864,000

 

0

 

121,679

 

73,304

 

48,375

UBS AG London

 

12,500,000

 

12,500,000

 

0

 

319,939

 

319,939

 

0

UBS LUX Institutional Fund Convertible Global B Care

 

1,800,000

 

1,800,000

 

0

 

46,071

 

46,071

 

0

UBS LUX Bond SICAV Convert Global (USD) B

 

285,000

 

285,000

 

0

 

7,295

 

7,295

 

0

UBS Securities LLC

 

8,500,000

 

8,500,000

 

0

 

217,558

 

217,558

 

0

Vicis Capital Master Fund

 

5,000,000

 

5,000,000

 

0

 

127,976

 

127,976

 

0

Wachovia Bank National Association

 

30,000,000

 

30,000,000

 

0

 

767,853

 

767,853

 

0

Wachovia Securities International Ltd

 

14,000,000

 

14,000,000

 

0

 

358,331

 

358,331

 

0

Waterstone Market Neutral Mac 51, Ltd.

 

2,502,000

 

2,502,000

 

0

 

188,687

 

64,039

 

124,648

Waterstone Market Neutral Master Fund, Ltd.

 

9,529,000

 

9,529,000

 

0

 

451,983

 

243,896

 

208,087

Wells Fargo & Company

 

8,000,000

 

8,000,000

 

0

 

204,761

 

204,761

 

0

Xavex Convertible Arbitrage 2 Fund

 

330,000

 

330,000

 

0

 

8,446

 

8,446

 

0

Yield Strategies Fund I, L.P.

 

2,000,000

 

2,000,000

 

0

 

51,190

 

51,190

 

0

Yield Strategies Fund II, L.P.

 

2,000,000

 

2,000,000

 

0

 

51,190

 

51,190

 

0

Zazove Convertible Arbitrage Fund, L.P.

 

6,605,000

 

6,605,000

 

0

 

169,056

 

169,056

 

0

Zazove Hedged Convertible Fund, L.P.

 

3,000,000

 

3,000,000

 

0

 

76,785

 

76,785

 

0

Zurich Institutional Benchmarks Master Fund

 

1,703,000

 

1,703,000

 

0

 

70,412

 

43,588

 

26,824

  * Includes common stock issuable within 60 days of the date hereof upon conversion of our convertible securities.

(1)          Includes common stock issuable upon conversion of our 2.75% Contingent Convertible Senior Notes due 2035 at a conversion rate of approximately 25.5951 shares of common stock per $1,000 principal amount of notes.

 

4