Speaking with GameSpot, Epic's Mike Capps revealed that work had begun on the first-person shooter sequel.
"We thought a lot about a sequel, and had done some initial development on it, but we found a project that we thought was a better fit for People Can Fly," he said. "We haven't announced that yet, but we will be announcing it pretty soon."
However, Capps said that doesn't mean there won't be more Bulletstorm games in the future.
"I'd love to go back [to Bulletstorm]," he added. "I think there's more to do with Bulletstorm. Heck, it kind of ended wanting more. I'd love to see another project, but right now we don't have anything to talk about."
Unfortunately, Bulletstorm was not a financial success for Epic Games or publisher EA.
"From a sales perspective it was good, but not amazing. I think EA was hoping we'd do better," Capps said. "We made a PC version of Bulletstorm, and it didn't do very well on PC and I think a lot of that was due to piracy. It wasn't the best PC port ever, sure, but also piracy was a pretty big problem."
People Can Fly is best known for its over-the-top shooters including Bulletstorm and Painkiller. The developer also worked on the PC port of the original Gears of War.
> Read our review of Bulletstorm