Chesapeake cuts its 2015 capital budget for the second time this year to cope with a slump in oil and gas prices, but raises its production forecast. Nov 4 (Reuters) – Chesapeake Energy Corp cut its 2015 capital budget for the second time this year to cope with low oil and gas prices and swung to a large quarterly net loss as the second largest U.S. producer of natural gas wrote down the value of assets. The Oklahoma City, Oklahoma company’s shares fell 5 percent to $7.25 in morning New York Stock Exchange trading, as third-quarter cash flow fell short of Wall Street estimates. U.S. oil and gas producers are slashing budgets, costs and streamlining operations as a near 60 percent drop in global oil prices since June last year saps profitability. In response, Chesapeake has so far cut about 15 percent of its workforce and suspended its dividend. […]