4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16.
    Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
   WHITTEMORE, FREDERICK B.
   MORGAN STANLEY DEAN WITTER
   1221 AVENUE OF THE AMERICAS

   NEW YORK, NY  10020
2. Issuer Name and Ticker or Trading Symbol
   Chesapeake Energy Corporation (CHK)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)

4. Statement for Month/Day/Year
   11/18/2002
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   [X] Director                   [ ] 10% Owner
   [ ] Officer (give title below) [ ] Other (specify below)
   Director
7. Individual or Joint/Group Filing (Check Applicable Line)
   [X] Form filed by One Reporting Person
   [ ] Form filed by More than One Reporting Person



Table I   Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security                           2)Trans-    3.Trans- 4.Securities Acquired(A)      5)Amount of    6)  7)Nature of
                                              action      action   or Disposed of (D)            Securities         Indirect
                                              Date        Code                   A               Beneficially   D   Beneficial
                                              (Month/                            or              Owned at       or  Ownership
                                              Day/Year)   Code V   Amount        D  Price        End of Month   I
------------------------------------------------------------------------------------------------------------------------------------
                                                                                           
Common Stock                                  11/18/02    X        45,000        A  $0.7089                     D  Direct
Common Stock                                  11/18/02    X        45,000        A  $0.6667                     D  Direct
Common Stock                                  11/18/02    X        45,000        A  $0.5556                     D  Direct
Common Stock                                  11/18/02    X        45,000        A  $2.4311                     D  Direct
Common Stock                                  11/18/02    X        45,000        A  $3.3889                     D  Direct
Common Stock                                  11/18/02    X        45,000        A  $6.4734      674,950        D  Direct
Common Stock                                                                                     41,750         I  by Family Foundat
                                                                                                                   ion


Table II (PART 1)  Derivative Securities Acquired, Disposed of, or Beneficially Owned  (Columns 1 through 6)
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1)Title of Derivative          2)Conversion    3)Trans-       4)Trans-  5)Number of Derivative            6)Date Exercisable and
Security                       or Exercise     action         action    Securities Acquired (A)           Expiration Date
                               Price of        Date           Code      or Disposed of (D)
                               Derivative
                               Security                       Code  V   A                D                Exercisable  Expiration
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  
Non-Qualified Stock Option     $0.5556         11/18/02       X                          45,000                        04/19/04
(right to buy)
Non-Qualified Stock Option     $0.6667         11/18/02       X                          45,000                        12/15/03
(right to buy)
Non-Qualified Stock Option     $0.7089         11/18/02       X                          45,000                        09/30/03
(right to buy)
Non-Qualified Stock Option     $2.4311         11/18/02       X                          45,000                        10/11/04
(right to buy)
Non-Qualified Stock Option     $3.3889         11/18/02       X                          45,000                        12/16/04
(right to buy)
Non-Qualified Stock Option     $6.4734         11/18/02       X                          45,000                        10/10/05
(right to buy)


Table II (PART 2)  Derivative Securities Acquired, Disposed of, or Beneficially Owned  (Columns 1,3 and 7 through 11)
------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative          3)Trans-  7)Title and Amount                           8)Price     9)Number of   10) 11)Nature of
Security                       action    of Underlying                                of Deri-    Derivative        Indirect
                               Date      Securities                                   vative      Securities    D   Beneficial
                                                                        Amount or     Security    Beneficially  or  Ownership
                                                                        Number of                 Owned at      I
                  -                      Title                          Shares                    End of Month
------------------------------------------------------------------------------------------------------------------------------------
                                                                                               
Non-Qualified Stock Option     11/18/02  Common Stock                   45,000                    0             D   Direct
(right to buy)
Non-Qualified Stock Option     11/18/02  Common Stock                   45,000                    0             D   Direct
(right to buy)
Non-Qualified Stock Option     11/18/02  Common Stock                   45,000                    0             D   Direct
(right to buy)
Non-Qualified Stock Option     11/18/02  Common Stock                   45,000                    0             D   Direct
(right to buy)
Non-Qualified Stock Option     11/18/02  Common Stock                   45,000                    0             D   Direct
(right to buy)
Non-Qualified Stock Option     11/18/02  Common Stock                   45,000                    0             D   Direct
(right to buy)


Explanation of Responses:




SIGNATURE OF REPORTING PERSON
/S/ By: Jennifer M. Grigsby
    For: Frederick B. Whittemore
DATE 11/18/02