Ochoa's 36-hole total, 13-under 129, bettered Annika Sorenstam's record 12-under 130 at last year's tournament at Williamsburg's Kingsmill golf course.
Her round Friday began with three straight pars and ended with eight birdies to go with bogeys at the fifth and ninth holes.
"I knew I had a lot of holes left, and the conditions were OK," Ochoa said about her slow start and the two bogeys. "I just thought I need to be patient and take advantage of it, easy holes, the par 5s and just go for it there. And that's what I did (but) I was a little disappointed with the finish."
Cristie Kerr (63), Song-Hee Kim (63) and In-Kyung Kim (64) share second place at 10-under 132, while Lindsey Wright (69) is alone in fifth at 8-under 134.
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