https://www.youtube.com/live/fYs9wbfCF5A
Good live update from the city on right now, with the water engineer providing high level overview of the system and how its impacted.
TLDR: Bearspaw can only feed north, and so is down to about 25% of production, taking ~40% of supply off the table to the city. The running out of water concern is indeed their ability to refill local reservoirs fast enough.