Item 1.01 Entry into a Material Definitive Agreement.

On June 11, 2021, Chesapeake Energy Corporation ("Chesapeake" or the "Company") entered into the First Amendment (the "Amendment) to its Credit Agreement, dated as of February 9, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement"), by and among Chesapeake, as borrower, MUFG Bank, Ltd., as administrative agent, MUFG Union Bank, N.A., as collateral agent, the guarantors party thereto and the lenders from time to time party thereto.

Among other things, the Amendment conditionally waives the Company's obligation to maintain the 50% minimum hedging covenant based on leverage ratio performance.

The above description of the material terms and conditions of the Amendment is a summary only, does not purport to be complete, and is qualified by reference to the full text of the Amendment attached to this Current Report as Exhibit 10.1.

Item 9.01 Financial Statements and Exhibits.



(d)  Exhibits.
   Exhibit           Description

     10.1            First Amendment to Credit Agreement, dated as of June 11, 2021, among
                     Chesapeake Energy Corporation, as borrower, MUFG Bank, Ltd., as administrative
                     agent, MUFG Union Bank, N.A., as collateral agent, and the lenders and other
                     parties party thereto.
     104             Cover Page Interactive Data File - The cover page XBRL tags are embedded
                     within the inline XBRL document.

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