Jacobson had six birdies and a bogey for a 5-under-par 67 Saturday and a 54-hole total of 16-under 200. That tied the tournament record, set by David Howell in 2005, after three rounds.
Louis Oosthuizen, who was bogey free Saturday for the second consecutive round, is alone in second at 14-under after a third-round 68. Adam Scott, who had a double bogey and a bogey on par 5s, but who also holed out for eagle on No. 18, shot 3-under 69 and is third at 13-under for the tournament.
Jacobson started hot, making a two-putt birdie at the 550-yard, par-5 second hole and dropping a 25-footer for birdie at the third hole. He also had a birdie at No. 4.
He had a bogey at the ninth hole but made another 25-foot putt for birdie at the 10th. He pushed ahead with birdies at Nos. 13 and 14.