In an interview between The Hollywood Reporter and Black Label Media founders and producers Molly Smith, Thad Luckinbill and his brother Trent, it was revealed that "Sicario 2" was indeed in development and that the sequel will most likely see the return of Benicio del Toro, Emily Blunt and Josh Brolin.

According to Smith, the sequel's script has already been drafted by Taylor Sheridan, who also wrote the script for the first film. This script has just been turned in so it is speculated that some adjustments and editing will still be required, particularly if any of the core cast members cannot return, although Thad did point out that the main three have been locked in.

"You have such a great character with Benicio, who was as dark as he was and still so loved," added Trent. "That character resonates so well with audiences. People want to know what happened to him, so it's a perfect foray for us to explore."

Trent also pointed out that while the core cast members are returning, unless something happens that forces them to drop out of the project, director Dennis Villeneuve has not yet been officially hired to helm the film. According to the producer, negotiations are being made in order to sign Villeneuve and to work around his schedule.

[Spoiler Warning] The first "Sicario" delved into a complex drug war between U.S. enforcerers and the Mexican drug cartel, ending with the revelation that the U.S. used Blunt's character in order to not only take down the Mexican ring but to give back strength to the Medellin drug cartel represented by del Toro's Alejandro Gillick.

With the second film bringing back the core cast, it is speculated that it will take place in Colombia and reveal what happened to Gillick following the murder of Mexican drug lord Silvio (Maximiliano Hernandez). 

No official release date has yet been announced for "Sicario 2."