We'd best head inland and set up a base camp. Once we're situated, we'll pick up Illidan's trail.
This is a dialogue from a video game. The player has just come to an island after a sailing and want to continue his game by first establishing a base camp.
What does be situated mean in this sentence? I'd guess it means settled in this context, but I cannot find a similar explanation in any dictionary. Beside, the usage of be situated is that it always combined with some modification showing the location something is situated or how a thing is situated (eg: well/badly). But there is none in this sentence, does the speaker drop it?