Through 36 holes, they are at 9-under 131.
In Friday's second round, Axley shot 7-under 63, his lowest single-round score as a professional. He turned pro in 1997, and has made 10 cuts this season.
"Today was a pretty stress-free day," said Axley. "It seemed like all my birdie putts I did make were between eight and 12 feet without much break."
Paul Goydos, who also shot 63 Friday, is third at 8-under 132.
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