Kevin Kisner fired a course-record 11-under 61 on Saturday to grab a share of the lead after three rounds at the Chile Classic.

Kisner, who did not make the cut in his previous two starts this year and is seeking his second career Web.com victory, is tied with Benjamin Alvarado (66) and second-round leader Edward Loar (69) atop the leaderboard at 17-under 199 at Prince of Wales Country Club.

"It looks like it's going to be a shootout," Loar said about Sunday's final round. "It ought to create a pretty good atmosphere."

Brice Garnett carded a 4-under 68 on Saturday to sit alone in fourth place at 16-under, while Troy Merritt (64), Jason Gore (66) and Danny Lee (70) share fifth at minus-14.

Merritt's 64 would have tied the previous course record set by Alex Coe, Joseph Bramlett and Paul Haley II in 2012, and also accomplished by Alvarado during his second round on Friday.

Kisner stepped on the course with one of the early groups and opened his day with consecutive pars before starting his record-setting run with a birdie at the third.

He followed that with another birdie at the sixth before he embarked on a streak of four straight birdies starting at the eighth to move to 6-under on the day.

An eagle at the par-5 14th advanced Kisner further up the leaderboard, and he closed out his round with birdies at the 16th, 17th and 18th to give him the clubhouse lead.

"You make a few birdies in a row on the back and then the eagle at 14, and then you're thinking we can do something special," said Kisner. "Probably the more you think the more you get in your way and so you try not to do that and just keep looking at the flag. They sure are fun though. I wish they'd happen more often."

Loar was able to briefly grab the lead after a birdie at the third was followed by three consecutive birdies from the ninth to move him to 18-under for the tournament, but he then slipped to bogeys at the 12th and 15th to drop a shot off the pace.

He got one shot back with a birdie at the 17th to grab a share of the lead.

Alvarado, meanwhile, was also able to move ahead of Kisner as he birdied seven of his first 13 holes to reach 18-under, but he stumbled to a seven at the par-5 14th to lose the top spot.

He then recovered with consecutive birdies at the 15th and 16th to grab the outright lead before closing with a bogey to fall back into the group at 17- under.

NOTES: Loar is seeking his second career Web.com victory, while Alvarado is looking for his first ... Haley, the 2012 champion at this event, is not in the field as he is participating in the PGA Tour's Puerto Rico Open, where he did not make the cut ... Loar has held the 54-hole lead only once in his career. It was at the 2012 Panama Claro Championship, which he went on to win ... Kisner's previous career low was a 9-under 62 in the second round of the 2011 Mylan Classic.