This morning Bethesda finally responded to rumors that Prey 2 had been or would be cancelled. The publisher has come out and stated that Prey 2 has not been cancelled but will not come in 2012 as planned. The delay is due to the fact that game development has not progressed satisfactorily this past year, and the game does not currently meet their quality standards. Prey 2 has shown great promise and they regret disappointing their fans. Bethesda noted that they have made a substantial investment in game development to deliver the experience fans want. They closed by saying that they are determined only to release the AAA game that fans rightfully expect, and are unwilling to compromise our quality standards to meet a release schedule.
The publisher gave no update in terms of what possible time frame in 2013 the game could be released.