I applied for a job and my status shows this.. what does it mean?

It depends on the company. A requisition is usually a form used by a Hiring Manager to justify the hiring of a new person. This form would need to be signed off on by HR and higher ups in the organization.

It could simply mean that you are in the running for the position, or it could mean that you are the one the Hiring Manager has chosen for the job. There is no way to know for sure except to contact HR or the Hiring Manager.