Delsing began on the back side at The Champions Club and got into the red with a birdie at the 10th. He picked up another birdie at the 14th before stepping onto the par-5 17th.
The 42-year-old reached the green in two and drained a 14-foot putt for eagle to make the turn at minus-4 under windy conditions.
'The wind tries your patience a little more than normal,' said Delsing. 'Sometimes a really good par save on a day like this is like two or three birdies any other time.'
Delsing birdied the par-5 second and took the outright lead with a birdie at the seventh en route to a bogey-free round.
'Whether I'm leading or not at the end of the day isn't important to me,' said Delsing. 'I'm just tickled with my round. Anytime you can get it under par on a day like this, it is obviously a great day.'
Delsing, who won the Fort Smith Classic in 2001, has one top-10 finish so far this year, a tie for third at the Richmond Open. He has missed six out of 10 cuts.
Briggs also put together a flawless round with five birdies and no bogeys for his share of second while Raulerson collected four birdies to go with an eagle and a bogey. Kribel torched the 7,097-yard layout with eight birdies to counter a bogey and a double-bogey to complete the logjam.
'It was a tough day, and it seemed the wind kept getting stronger as the day went on,' said Kribel. 'My game plan was to make a lot of pars, but I got lucky and made some birdies as well.'
Mark Wilson and Scott Peterson each carded rounds of 68 to finish tied for fifth.
Last year Heath Slocum graced the winner's circle at the event that has served as the springboard for several players seeking a birth onto the PGA Tour. This week, a pair of golfers are hoping to make the Omaha Classic the third leg of their own trip to the big show under the Battlefield promotion.
Patrick Moore, who has won the Richmond Open and Lake Erie Charity Classic this year, opened with a round of three-under-par 69 to finish in a tie for seventh alongside Barry Cheesman, Victor Schwamkrug, Tommy Biershenk, Doug Dunakey, Andrew McLardy, Chad Wright, Mark Hensby, Jaxon Brigman, Dave Stockton, Jr., and Rocky Walcher, who won this event in 1996.
Cliff Kresge, the other two-time winner on the Buy.com Tour in 2002, collected two birdies and two bogeys to finish six shots off the pace at even-par 72.