Overnight leaders Cristie Kerr, Cheyenne Woods and P.K. Kongkraphan all slipped down the leaderboard. Kerr fell to third and remains one stroke behind Pettersen and Uribe, while Woods and Kongkraphan plummeted down to tied 19th and tied 35th respectively.
World number one Lydia Ko enjoyed a more successful round and finds herself in tied 48th, while defending champion Inbee Park remains six strokes behind Pettersen and Uribe.
Pettersen's bogey-free round started with six successive pars before she made a hat-trick of birdies from the seventh to ninth hole.
Her excellent form continued into the back nine as she made another trio of birdies from the 12th to 14th hole and finished with her seventh birdie of the round on the 16th.
Like Pettersen, Uribe also enjoyed a bogey-free round as she began with consecutive birdies on the 12th and 13th before rounding off her front nine with another birdie on the 16th.
Her back nine was exactly the same as her front nine as she made successive birdies on the fourth and fifth before finishing on a high with a birdie on the ninth.
Kerr meanwhile got underway with seven pars in a row before breaking that streak with consecutive birdies on the eighth and ninth.
She slipped up on the 10th as she registered her lone bogey of the round, but bounced back with birdies on the 12th and 16th.
After tying the course record with a nine-under par 63 in the first round, Tiger Woods' niece, Cheyenne, stumbled in the second round as she hit a 73.
Woods' round consisted of four birdies, three bogeys and a double bogey on the par-three 17th.
Kongkraphan struggled to mount any offense during her second round as she finished with a 75, which included two birdies and five bogeys.
Ko surged up the leaderboard after she followed up her 71 in the first round with a 68 in the second.
The 18-year-old had a very quiet front nine as she only made one birdie on the second.
She enjoyed a lot more success on the back nine as she registered birdies on the 13th, 15th and 18th to remain eight strokes behind Pettersen and Uribe.
Park meanwhile began with a birdie on the second before making her only bogey of the round on the sixth. But, she bounced back with consecutive birdies on the eighth and ninth to round off her front nine.
The defending champion had a relatively quiet back nine as she only made two birdies on the 15th and 16th.