The tournament uses the modified Stableford system of scoring, in which eight points are awarded for a double eagle, five for an eagle and two for a birdie. One point is taken away for a bogey and three for a double bogey or worse.
Teater, who has three Top 10 finishes on the tour this year but is still looking for his first victory in 113 appearances on the circuit, had a one-point lead over James Driscoll and Gary Woodland. Greg Chalmers was alone in fourth with 13 points.
Teater had six birdies, an eagle and two bogeys in compiling his 15 points. He finished seventh in this tournament last year and tied for 10th in 2011.