D.J. Brigman is alone in fifth place at 11-under-par, followed by Eric Meeks (68), Omar Uresti (65), Todd Fischer (66), Jeff Freeman (67) and Bruce Vaughan (67). The group is tied sixth at minus 10.
Sheehan started on the back nine at Highland Springs Country Club and birdied two of his first four holes. He laid up on the par-5 18th but the decision paid off when he wedged his approach to eight feet to make the turn at 3-under 33.
Sheehan birdied the next par-5, the first but dropped his only shot of the round at the fourth when he two-putted from 10 feet. Sheehan reached the green in two at the par-5 eighth and two-putted from 20 feet to birdie all four par-5s and card his round of 68.
'I birdied all of the par fives again today,' said Sheehan. 'The guys are ripping them up because they're all reachable in two. But the tough pins haven't been used yet.'
Sheehan flew into the lead Thursday with a 9-under 63 and is very positive heading into the weekend.
'I played well and hit the ball well today,' said Sheehan, who has owned the 36-hole lead twice thus far in 2002 but has yet to visit the winner's circle. 'I have nothing but confidence heading into the weekend.'
McKelvey hit crisp iron shots Friday, hitting 17 of 18 greens in regulation.
'The greens are soft so you can fire at the pins and there was not much wind again today,' said McKelvey, who shot a 6-under 66 Friday. 'You're going to have to make a lot of birdies this week.'
Justice holed two chips for birdie at two and 10 and made an eagle en route to a 7-under-par 65.
'I can't remember chipping in twice during one round,' said Justice. 'I'm putting so well right now I can shoot some low numbers. Whether I'm one back or two up, I want to just keep hitting good shots.'
Carter tallied eight birdies against two bogeys Friday for a 66.
The 36-hole cut fell at 4-under-par 140 with 62 players advancing to the weekend. One player who missed the cut was Zoran Zorkic, who was tied for second place after Thursday's first round. Zorkic shot a 5-over 77 and finished 36 holes at 2-under-par 142.
Full-field scores from the Ramey Price Cutter Charity Championship