Bulletstorm 2 was in development before Epic decided against it.
Epic president Mike Capps told GameSpot "initial development" on a follow-up to People Can Fly's critically acclaimed over-the-top shooter had begun, but Epic decided it wasn't right for the Polish developer.
"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."
Capps' comments echo those he made in July last year, when he admitted Bulletstorm, published by EA, didn't make money. "I think Bulletstorm was very critically successful, and I think a lot of folks really enjoyed seeing something new," he said. "From a sales perspective it was good, but not amazing. I think EA was hoping we'd do better."
The PC version was hurt by piracy, Capps said, but he admitted "it wasn't the best PC port ever". Still, that hasn't put Epic off from doing a sequel one day. "I'd love to go back [to Bulletstorm]," he revealed. "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."