After the hosts were bowled out for just 98 on the opening day, rain prevented any play for 48 hours before the Red Rose reply reached 110-3, with Liam Livingstone 53 not out.
More than 1100 gallons of water were removed from the outfield on Wednesday but further rain prevented any play on Thursday.
Only 71.3 overs were bowled in the whole match at Blackfinch New Road as Second Division leaders Lancashire were forced to settle for a draw in a third successive match wrecked by rain.
Former Lytham wicketkeeper-batsman Davies said: “It has not been ideal. We would have liked to have got a bit more play out there and maybe try to force a result. You look at the last three games that have been rain-affected and we have been dominating in all three.
“We could potentially be six wins from six games but for the weather, though we have been playing some good cricket. I’ve had a tough start to the season with injury but you just crack on.”
Lancashire’s next Championship match is due to start at Derbyshire’s County Ground on Monday.