Why Did Black Lagoon Never Get Another Season?

gamerant.com:

Black Lagoon is one of those mid-2000s anime that further defined Madhouse as a producer of darker typically uber-masculine anime for mature audiences. With its popularity in the west, it's surprising that this anime hasn't continued since 2011 despite the manga still running. Black Lagoon started as a manga in 2002 written and illustrated by Rei Hiroe and serialized in Sunday Gene-X. In 2006, Madhouse produced two 12-episode cours called Black Lagoon and Black Lagoon: The Second Barrage, before releasing a five-episode OVA starting in 2010 called Roberta's Blood Trail.

The series tells the tale of Rokuro «Rock» Okajima, a Japanese businessman who ends up working for the Lagoon Trading Co. when his company cuts him loose when he gets held for ransom. Living in the city of Roanapur in Thailand, Rock has to do his best to survive in one of the most dangerous and insane places on earth. The two seasons and the OVA were met with much acclaim, but it all seemed to end after the OVA.

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To understand why anime tend to end before its source material, there are a few go-to reasons that tend to offer an explanation. In the case of Black Lagoon, it's hard to say for certain why Madhouse didn't continue the series as no official statement has been given, but some reasons make more sense than others.

For some anime, they might end because of poor critical reception or low sales in Japan. As to the former, the reception, at least in the west has been universally positive over the years, and as for the latter, there isn't much readily available data to support the idea that it wasn't selling well. As it is, the animation never seemed to suffer from any budget restraints, were there