DreamWorks Pictures has announced plans for a sequel to Shrek, Variety reports, with Ted Elliott and Terry Rossio at the helm. The duo co-wrote and co-produced the first project, which has grossed $114 million since its May 16 opening. Shrek is based on a children's book by William Steig. Rossio and Elliott have collaborated on various projects in the past, including Disney's Aladdin and DreamWorks' The Road to El Dorado. Production on the sequel will be quicker than the original, which took five years to make.