No, Obsidian is not making a Fallout: New Vegas sequel

When Fallout: New Vegas released in 2010, it was a massive success. Players wanted a brand new Fallout game, but Bethesda was working on Skyrim so they reached out to Obsidian to have them make a spin-off to Fallout 3. The game was very critically acclaimed and some players considered the game even better than Bethesda's own attempt at the post-apocalyptic RPG series.

It's been 7 years since New Vegas and we got Fallout 4 about 2 years ago. Fans have been clamoring for a new Fallout from Obsidian and Obsidian has even expressed interest in developing a Fallout game set in New Orleans. Sadly, despite a number of rumors, the studio is not making a new Fallout.

Obsidian came out with an official statement after a bunch of rumors started circulating about a new Fallout game. “We’ve said plenty of times that we’d love to work on a Fallout again if Bethesda wanted us to, we just aren’t at this time. Right now we’re very focused on the Fig campaign to make our first ever sequel in Pillars of Eternity II: Deadfire. Whenever a new Fallout comes around though, whoever is doing it, we all look forward to playing it!”

Rumors began popping up on the internet after Obsidian began teasing a new Pillars of Eternity game via some mysterious pictures.

[Kotaku]