Tool last released a new album 2006.  There has been a lot of talk about the band releasing a new album over the past year.  Late in 2013, Maynard James Keenan said that it was "long process."  They are currently touring the west coast.

Guitarist Adam Jones fueled speculation at a stop in Portland, Oregon.  Something called CraveOnline has an unnamed source that claims Jones said the new record is done.

But, the "source" apparently did not get the whole message.

Jones took to Twitter to clear the air.

 

The band also released a statement to Rolling Stone:

"Last night, Adam Jones, in a private conversation with fans attending the Portland Tool concert, joked that the band's new album was not only finished but coming out the next day.  Unfortunately, his off-the-cuff joke was taken out of context. Work on the forthcoming album is ongoing and as soon as it is done, trust me, we will be the first to let everyone know."