The back nine Stadium course starter could have shared the lead as well but followed birdies at seven and eight with a closing bogey.
Countryman Si Woo Kim is among those in a big chasing pack after carding 68 which featured six birdies while American Tony Finau (66), Mexico's Abraham Ancer (65), Nick Taylor of Canada (66) and overnight leader Brandon Haggy of the USA (70) joined Kim on 134.
Richy Werenski also shot a 65 and moved within a shot of the lead at PGA West near Palm Springs.
American Maverick McNealy, in a pack on 67, joined Dean Wilson from the 2009 final round as the only players to eagle the par-four sixth hole at the Nicklaus course, doing so in a birdie-birdie-eagle-birdie run.
"My love of the game of golf is high, and my desire to compete and play against the best players is high". "So I think we're kind of turning the corner. You just want to keep staying in that rhythm on the greens when you're rolling it well".
Cantlay had stormed to a narrow clubhouse lead with 11 birdies in an 11-under par 61 - a course record on the Stadium Course at PGA West and enough to put him one ahead of Kim as the South Korean was coming up the finishing straight. He birdied the second and the par-5 fifth and eighth holes and three in a row starting with a 23-foot putt at the par-4 15th followed by a tap-in at the par-5 16th and an 18-foot birdie putt at the par-3 17th.
The Burbank-born son of a well-known acting coach is giving himself positive affirmations in his bid to embody the word on his arm. He said he suffered through a restless night thinking about the challenge he'd face at the Dye layout that he'd played bogey-free during two earlier rounds in the tournament.
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"Every year, I've had a chance, but I couldn't make it", Kim said through a translator.
"I have great memories with this course, and that's why I feel confident whenever I come to this course", Kim said. It's just something about these greens.
Im also feels he might have an edge because didn't travel home to South Korea during the holiday break due to the mandatory coronavirus quarantine required.
Kim, who is chasing his third career win, played the Stadium Course without a bogey for the second time in three days, while the streakier Finau bounced back from a double bogey on the 13with three consecutive birdies. "But very comparable", Cantlay said. "So it actually helped me on the holes coming in. I drove it really nice on the par-5s and gave myself pretty easy looks on a few of them".
Mickelson, who has won five majors and 44 PGA Tour events in his illustrious career, made 18 pars for the first time in his 2,201 rounds on the PGA Tour. "So I tried to hit it more confidently on 17's putt, so that's how I made it", said Kim, who polished off the win with a textbook par at the par-four 18th, his final stroke a tap-in.
If things do not go well on the PGA Tour, I will consider playing more consistently on the Champions Tour" "I just know that the birth of any children, especially your first, is the most emotional experience that you could possibly share, and there's no sense to take any risk.
The field played through sparse desert rain in the afternoon.