At 12-under-par, Murphy is two shots clear of Jim Thorpe, Gil Morgan and first-round leader Bill Brask. Thorpe and Morgan each carded a 67 in the second round. Brask overcame a shaky start, which consisted of three bogeys over his first six holes, to shoot a 2-under-par 70.
Saturday, Murphy carded eight birdies and two bogeys in his climb up the leaderboard. This is the second time this season Murphy has taken at least a share of the lead into the final round.
In July's Instinet Classic, Murphy shared the 36-hole lead with Tom Jenkins and Morgan. That Sunday, Murphy shot a 2-under-par 70 to finish in a tie for second, as Morgan fired a 66 to earn his second of three wins in 2000.
Murphy has 11-career Senior Tour victories, but none since 1997.