Borderlands has been well received by both media and consumer and in an interview with VG247 Gearbox Software's Creative Director Mike Neumann commented on the possibility of a sequel:
"Everyone here loves the franchise, and it seems like the public is really coming back with praise and love. So yeah, if everything makes sense, Borderlands 2 seems like a no-brainer to me."
At the moment plans for a sequel is something they are only discussing as they are focused on delivering downloadable content for Borderlands first - starting with Zombie Island of Dr. Ned.