Hurd has bought the rights to the Annie Jacobsen book Area 51: An Uncensored History of America's Top Secret Military Base, Deadline reports.
Hurd's project would focus on two men working at Area 51 - which has notoriously been linked to aliens - who end up in danger when they discover highly sensitive government secrets.
The script will be written by Karl Gajdusek, who has previously penned the Showtime drama Dead Like Me.
Meanwhile, as well as working on The Walking Dead, Hurd has produced movies including The Terminator, Aliens, Armageddon and The Incredible Hulk.
She is also thought to be developing a drama about pirates and an adaptation of Jeffrey Archer's novel The Eleventh Commandment.
The Area 51 drama has not yet been attached to any networks.
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