Ben Affleck, Matt Damon Developing Whitey Bulger Movie

Affleck would direct the drama for the duo's Pearl Street Films banner; Casey Affleck would co-star.

Ben Affleck and Matt Damon are keeping their Warners-based Pearl Street Films banner busier than a crab shack in lobster season.

With Affleck directing Argo and a week after setting up an untitled small-town drama for Damon to direct, the duo are tackling the story of Whitey Bulger, a notorious Boston-based gangster who was caught earlier this year in California at the age of 81 after 16 years on the run.

Affleck would direct the project, still in development, with Damon portraying the man through several decades, including his rise and local Robin Hood-style infamy, his alleged 19 murders and racketeering, his acting as an FBI informant, and his years on the run.

Affleck would also co-star as would brother Casey Affleck.

Terence Winter, who worked on The Sopranos and created Boardwalk Empire, is penning the script.

Sarach Schachter is overseeing for the studio. Pearl Street's Chay Carter is overseeing for the banner.