playing multiplayer with my wife. we found a way to raise the water back up but it is very time consuming. You have to be at waters edge with the shovel that levels the ground. you have to be two levels higher than the water and use that item on the waters edge and it slowly brings the water back to level, it seems one square at a time... a bucket needs to be added in which we can grab water from somewhere and fill in other spots or the water mechanic...