The 49-year-old Armour, a two-time PGA Tour winner, shot a 7-under 65 at Pebble Beach en route to a 14-under 202 total. He had six birdies, an eagle and a bogey.
Everything was working today, said Armour, who finished 62nd this season on the PGA Tour money list. I hit em where you had to hit em on these greens. Theyre a little firmer than normal. And I made some putts.
Beem, the 2002 PGA Championship winner, shot a 68, also at Pebble Beach. He had four birdies, an eagle and two bogeys.
I hit the ball really well today, Beem said. The funny thing is Pebble Beach has never treated me well.
The 37th annual tournament features players from the four major tours as well as mini tour players, club pros and amateurs competing on teams. Champions Tour and LPGA entrants receive distance advantages on tee shots.
Former U.S. Open winner Scott Simpson of the Champions Tour had a 66 at Del Monte. He was 8 under along with Bryce Molder, the Nationwide Tour player who had a 69 at Spyglass Hill.
Oberholser, who caddied for his wife in the event last year while recovering from one of his two 2008 surgeries, shot a 72 at Pebble Beach. Oberholser was tied with Charley Hoffman and Brendon De Jonge at 7 under.
Hoffman, the 2007 Bob Hope Chrysler Classic winner, shot a 64 at Del Monte, the days low round. De Jonge had a 66, also at Del Monte.
Armour, who ended a four-year winless streak with his Callaway victory in 2007, last won on the PGA Tour at the Valero Texas Open in 2003 when he set the PGA Tour tournament record of 34 under par.
Theres a lot of golf left and Pebble Beach is a tough golf course, Armour said. You never know what the weather can bring tomorrow.
Vicky Hurst, who recently qualified for the LPGA, shot a 72 at Pebble Beach for a 1-under total.