BORR Drilling posted a loss for both the full year and fourth quarter of 2020 but the Oslo-listed jack-up specialist is more optimistic of drilling market opportunities going forward. The net loss of the 12 months to the end of December was $305.2 million, similar to the 2019 net loss of $299.1 million. Revenues last year hit $307.5 million, down from $334.1 million as oil and gas market activity slowed amid the coronavirus pandemic, which hammered global demand. For the fourth quarter of last year, Borr posted a net loss of $46.7 million, an improvement on the loss of $60.3 million in the final period of 2019. Revenues in last year's fourth quarter were $60.2 million, well down on the $92.9 million taken a year earlier. Borr booked impairments of $77.1 million in 2020 as against $11.4 million in 2019.
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