Lahiri carded a superb five-under 65 with four birdies and an eagle to move to three-under for the tournament and was placed tied 59th as he moved 64 places up from the first round.
The 28-year-old Indian, whose only top-10 this season has been a second place on European and Asian Tour's Hero Indian Open at home, started down the barrel after carding two-over 72 in the first round, which he completed on Friday morning.
At the top, Ben Crane shot a seven-under 63 on Friday at the AT&T Byron Nelson to take the second-round lead at 12-under 128. He was one stroke ahead of a quartet of players that included Jordan Spieth, playing only his second tournament since squandering a five-stroke lead on the back nine when trying to win his second consecutive Masters.
"It was disappointing to come out and finish weak with a 3 putt this (Friday) morning. With the conditions perfect for scoring I really put myself way out of position," said Lahiri.
"Coming out for the second round, I was just trying to stay positive and get some semblance of momentum which was absent in the first 18. I got off to a good start (from the 10th) but then misjudged the yardage on 17 to drop back again."
He was two-under at the turn after three birdies and a bogey and had moved to even par for the tournament, but that was still going to be insufficient to make the cut.
"Going into the last nine I set myself a target to get to 3 under. I missed a lot of make-able birdies on 18, first and third then birdied fourth and made a clutch 15 odd footer for eagle on seventh.
Playing into the wind on the seventh, Lahiri smashed a driver and 3-wood to get within 14 feet for an eagle putt, which he drained to his relief.
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