The studio made the announcement on Friday via Twitter, where it also confirmed plans to release both games next year.
"We have TWO titles in development and hope to release both in early 2015," read the Tweet.
No further information was offered, but the developer did later express an interest in possibly seeking crowd funding. "Maybe we should think about doing a Kickstarter?" it said.
ZoomThe studio has ale confirmed the recruitment of another former Criterion employee - Paul Ross - who is now Three Fields' chief technical officer.
Ward and Sperry confirmed their departure from EA-owned Criterion in early January, when Ward said the pair intended to "start afresh and form a new games company".
Three Fields Entertainment founder and creative director Ward announced the formation of the new studio on Twitter in March.
"We will make games for all platforms where we can self-publish," he said, although he admitted Wii U development "probably" isn't on the cards.
In their previous roles at Criterion - known for the Burnout series and recent Need for Speed titles - Ward served as vice president and creative director while Sperry was studio director.
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