Scott McCarron fired his second consecutive six-under-par 65 to take a one-shot lead after three rounds of the $3.7 million Nissan Open on Saturday.
The 36-year-old Californian rolled in a 50-foot eagle putt from the fringe of the 17th green as he wound up 14-under on 199, one stroke better than overnight leader Toru Taniguchi of Japan.
Taniguchi fired a four-under 67 amid an assault on par by the field in near perfect playing conditions at the Riviera Country Club.
"I was just feeding off what those guys were doing," McCarron said after recording the lowest 54-hole score at Riviera since Fred Couples's 197 total in 1990.
McCarron went to college down the street at UCLA and spent Friday night at his old fraternity house.
"I plan to make a lot of birdies (on Sunday)," he said. "I've got a lot of family and friends out here, and we're going to have a good time."
McCarron, looking for his fourth U.S. PGA Tour title and his first since the 2001 BellSouth Classic, made four birdies in addition to his late eagle.
Taniguchi, a top player on the Japanese circuit who is trying to win his first U.S. PGA Tour title, continued his near flawless golf to finish 13-under on 200.
Taniguchi, known as the "Japanese Tiger" for his penchant for pumping his fist after birdies and his preference for wearing red shirts on Sundays, has made just one bogey in the tournament, as has McCarron, who has not dropped a stroke since the second hole in round one.
Len Mattiace birdied the 18th for a 67 to finish in third place on 12-under 201.
Crowd favourite John Daly managed a one-over 72, leaving him on 211. Defending champion Robert Allenby of Australia fired a 73 for 212.