Percy Jackson and the Olympians: The Lightning Thief was a moderate success for Fox 2000, making about $226 million worldwide on a $95 million budget (though most of that money came from overseas). The film was always intended to kick off a tentpole franchise for Fox 2000, so it’s not really surprising to hear that the studio is adapting the second book in author Rick Riordan’s five-volume series into a movie.

The LA Times’ 24 Frames has an insider claiming that Percy Jackson and the Olympians: The Sea of Monsters is going into “active development,” and could even start shooting as soon as this summer.

In the first film, young Percy Jackson (Logan Lerman) discovered he was a demigod, spawned from the union of Poseidon and a human woman. When he was framed for stealing Zeus’ thunderbolt, Percy and his friends went on a quest to find the stolen weapon and eventually discovered and defeated the real thief, saving the world from a war between the gods.

In Riordan’s second book, Percy must save “Camp Half-Blood” the safe haven where demigods are protected from evil by magic barriers. Someone has poisoned the barriers, so it’s up to Percy and Co. to venture into “The Sea of Monsters” to find the mythical Golden Fleece to save the camp.

The primary cast is expected to return for this next installment, and that list would presumably include Logan Lerman, Brandon T. Jackson, Alexandra Daddario, Sean Bean, Pierce Brosnan, Katherine Keener and Kevin McKidd. Writing duo Scott Alexander and Larry Karaszewski are handling the script; the pair have a diverse resume, including films like 1408, Agent Cody Banks, The People vs. Larry Flynt, Ed Wood and Problem Child 1 & 2. Take that how you will.

Director Chris Columbus (who also did the first two Harry Potter films), is not expected to return to direct Sea of Monsters, but will reportedly produce the pic alongside Breaking Dawn producer, Karen Rosenfelt. Take that how you will.

Jackson, Lerman and Daddario in 'The Lightning Thief'

The first Percy Jackson was entertaining enough – especially for the young adult crowd. The lead actors in particular (Lerman, Jackson and Daddario) had good chemistry and the story is a fun little twist on Greek Mythology. It’s not as immersive or epic as Harry Potter , but it was certainly more entertaining than the Narnia movies (for me at least). I’m not mad at them for making another one – plus, the whole “Sea of Monsters” thing could be cool on the big screen (in 3D, no doubt).

We’ll update you about Percy Jackson and the Olympians: The Sea of Monsters when an official announcement is made.

Source: 24 Frames