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                                                                    EXHIBIT 99.3
 
                         CHESAPEAKE ENERGY CORPORATION
 
                               OFFER TO EXCHANGE
                                      ITS
                     9 5/8% SERIES B SENIOR NOTES DUE 2005
                       FOR ANY AND ALL OF ITS OUTSTANDING
                     9 5/8% SERIES A SENIOR NOTES DUE 2005
 
TO: BROKERS, DEALERS, COMMERCIAL BANKS,
    TRUST COMPANIES AND OTHER NOMINEES:
 
     Chesapeake Energy Corporation (the "Company") is offering to exchange the
"Exchange Offer"), upon and subject to the terms and conditions set forth in the
Prospectus, dated          , 1998 (the "Prospectus"), and the enclosed Letter of
Transmittal (the "Letter of Transmittal"), its registered 7 7/8% Series B Senior
Notes Due 2005 (the "New Notes") for any and all of its outstanding 9 5/8%
Series A Senior Notes Due 2004 (the "Old Notes"). The Exchange Offer is being
made in order to satisfy certain obligations of the Company contained in the
Registration Rights Agreement dated as of April 22, 1998 between the Company and
the other signatories thereto.
 
     We are requesting that you contact your clients for whom you hold Old Notes
regarding the Exchange Offer. For your information and for forwarding to your
clients for whom you hold Old Notes registered in your name or in the name of
your nominee, or who hold Old Notes registered in their own names, we are
enclosing the following documents:
 
          1. Prospectus dated          , 1998;
 
          2. The Letter of Transmittal for your use and for the information of
     your clients;
 
          3. A Notice of Guaranteed Delivery to be used to accept the Exchange
     Offer if certificates for Old Notes are not immediately available or time
     will not permit all required documents to reach the Exchange Agent prior to
     the Expiration Date (as defined below) or if the procedure for book-entry
     transfer cannot be completed on a timely basis;
 
          4. A form of letter which may be sent to your clients for whose
     account you hold Old Notes registered in your name or the name of your
     nominee, with space provided for obtaining such clients' instructions with
     regard to the Exchange Offer;
 
          5. Guidelines for Certification of Taxpayer Identification Number on
     Substitute Form W-9; and
 
          6. Return envelopes addressed to United States Trust Company Of New
     York, the Exchange Agent for the Old Notes.
 
     YOUR PROMPT ACTION IS REQUESTED. THE EXCHANGE OFFER WILL EXPIRE AT 5:00
P.M., NEW YORK CITY TIME, ON             , 1998 (THE "EXPIRATION DATE"), UNLESS
EXTENDED BY THE COMPANY. THE OLD NOTES TENDERED PURSUANT TO THE EXCHANGE OFFER
MAY BE WITHDRAWN AT ANY TIME BEFORE 5:00 P.M., NEW YORK CITY TIME, ON THE
EXPIRATION DATE.
 
     To participate in the Exchange Offer, a duly executed and properly
completed Letter of Transmittal (or facsimile thereof), with any required
signature guarantees and any other required documents, should be sent to the
Exchange Agent and certificates representing the Old Notes should be delivered
to the Exchange Agent, all in accordance with the instructions set forth in the
Letter of Transmittal and Prospectus.
 
     If holders of Old Notes wish to tender, but it is impracticable for them to
forward their certificates for Old Notes prior to the expiration of the Exchange
Offer or to comply with the book-entry transfer procedures on a timely basis, a
tender may be effected by following the guaranteed delivery procedures described
in the
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Prospectus under "The Exchange Offer -- Terms of the Exchange
Offer -- Guaranteed Delivery Procedures."
 
     The Company will, upon request, reimburse brokers, dealers, commercial
banks and trust companies for reasonable and necessary costs and expenses
incurred by them in forwarding the Prospectus and the related documents to the
beneficial owners of Old Notes held by them as nominee or in a fiduciary
capacity. The Company will pay or cause to be paid all stock transfer taxes
applicable to the exchange of Old Notes pursuant to the Exchange Offer, except
as set forth in Instruction 4 of the Letter of Transmittal.
 
     Any inquiries you may have with respect to the Exchange Offer, or requests
for additional copies of the enclosed materials, should be directed to the
Exchange Agent for the Old Notes, at its address and telephone number set forth
on the front of the Letter of Transmittal.
 
                                            Very truly yours,
 
                                            Chesapeake Energy Corporation
 
     NOTHING HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU OR ANY
OTHER PERSON AS AN AGENT OF THE COMPANY OR THE EXCHANGE AGENT, OR AUTHORIZE YOU
OR ANY OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY STATEMENTS ON BEHALF OF
EITHER OF THEM WITH RESPECT TO THE EXCHANGE OFFER, EXCEPT FOR STATEMENTS
EXPRESSLY MADE IN THE PROSPECTUS OR THE LETTER OF TRANSMITTAL.
 
Enclosures