Case Study: NuStar Energy achieves ASC 842 compliance and centralized lease visibility with LeaseAccelerator

NuStar Energy - Customer Case Study

NuStar Energy, a San Antonio–based master limited partnership with roughly $8 billion in enterprise value, operates nearly 9,800 miles of pipeline and 74 terminals and faced a complex ASC 842 adoption challenge: an enterprise-wide, heterogeneous lease portfolio (marine vessels, equipment, land easements and real estate) scattered across teams and systems. Gathering and centralizing contracts and abstracting lease data proved the most difficult part of the project, so NuStar sought an enterprise lease accounting solution to automate calculations, ensure consistent policy application, and support auditability.

NuStar selected LeaseAccelerator’s Enterprise Lease Accounting SaaS to centralize data, bulk-upload lease records, generate customizable reports and provide on-demand training. LeaseAccelerator helped NuStar inventory over 1,000 leases (scoped to 300–400 after excluding short‑term/low‑value items) and enabled a successful ASC 842 transition on January 1, 2019; the accounting team closed monthly and filed its first interim SEC Form 10‑Q in April 2019. With all leases in one repository, NuStar now delivers detailed reports by business unit and legal entity and uncovered long-running small-ticket rentals that were renegotiated for more cost-effective contracts.

NuStar Energy